a malnourished child is weighed at a clinic run by Medecins Sans Frontieres in Maiduguri Nigeria on Monday, August 29, 2016, victim of famine conditions created by Boko Haram. Sunday Alamba / AP
a malnourished child is weighed at a clinic run by Medecins Sans Frontieres in Maiduguri Nigeria on Monday, August 29, 2016, victim of famine conditions created by Boko Haram. Sunday Alamba / AP
a malnourished child is weighed at a clinic run by Medecins Sans Frontieres in Maiduguri Nigeria on Monday, August 29, 2016, victim of famine conditions created by Boko Haram. Sunday Alamba / AP
a malnourished child is weighed at a clinic run by Medecins Sans Frontieres in Maiduguri Nigeria on Monday, August 29, 2016, victim of famine conditions created by Boko Haram. Sunday Alamba / AP

Thousands of Nigerian children doomed by Boko Haram to starve to death


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LAGOS // As many as 75,000 children will die over the next year in famine-like conditions created by Boko Haram — far more than the 20,000 people killed in the seven-year Islamic uprising.

The United Nations Children’s Fund says the severity of malnutrition levels and high number of children facing death make the humanitarian crisis confronting northeastern Nigeria perhaps the worst in the world. But donors are notresponding to appeals for help.

Most severely malnourished children die of secondary illnesses like diarrhoea and respiratory infections. “But with famine, you actually die of hunger, ”said Arjan de Wagt, nutrition chief for Unicef in Nigeria.

Severe malnutrition is being found in 20, 30 and even 50 per cent of children in pockets of the region.

“Globally, you just don’t see this. You have to go back to places like Somalia five years ago to see these kinds of levels,” said Mr de Wagt said. Nearly 260,000 people died in Somalia between 2010 and 2012 from severe drought aggravated by war. At the time, the United Nations said aid needed to be provided more quickly.

Unicef on Thursday doubled the amount of its appeal for Nigeria, saying $115 million is needed to save children whose “lives are literally hanging by a thread.” But only $24 million has been raised so far. The lack of funds has meant about 750,000 people living in accessible areas received no help this year, said Unicef spokeswoman Doune Porter.

Most of the estimated 2.6 million people who fled Boko Haram’s insurgency are subsistence farmers who have been unable to plant for two years or more.

Several thousand people returned this month from refugee camps to towns being secured by Nigeria’s military, but with the rainy season now drawing to a close, it is too late to plant new crops. Meanwhile, Boko Haram still attacks outside urban areas.

Four million people are in desperate need of food and of those, about 2.2 million people trapped in areas where Boko Haram is operating or in newly liberated areas that are still too dangerous to reach by road, said Mr de Wagt said. Among them, 65,000 are living in famine-like conditions.

According to the aid group Doctors Without Borders (MSF), the crisis has reached “catastrophic levels” for people who have sought refuge in towns controlled by the military but who are “entirely reliant on outside aid that does not reach them.” the highest levels of starving children are in camps in Maiduguri, the northeastern city free of conflict where aid workers have been active for two years. “The mortality rate is five times higher than what is considered an emergency, with the main cause being hunger,” said an MSF statement.

There have been recent allegations by displaced people and aid workers that food aid is being stolen in Maiduguri. Responsibility for ensuring aid is delivered falls to the Nigerian authorities but MSF described the overall aid response as “massively insufficient, uncoordinated and ill-adapted.” But Muhammad Kanar, the area coordinator for Nigeria’s National Emergency Management Agency, denied there were any cases of malnutrition in Maiduguri. Some officials from his agency, which manages the camps, are among several accused of stealing food aid.

Christina Corbett of the aid group Oxfam said, “Many families are only able to eat once every few days and usually only watered-down porridge. They are going to bed hungry and waking up with no way to change that.”

Unicef restricted its work in the region after Boko Haram fighters attacked a humanitarian convoy in July, wounding a Unicef worker and others when a rocket hit an armoured car. The attack happened despite the convoy having a military escort.

But Mr de Wagt said the agency continues to deliver some therapeutic food by helicopter and to train local health workers to treat malnourished children living in dangerous areas.

* Associated Press

Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.

Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.

Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.

Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.

“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.

Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.

From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.

Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.

BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.

Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.

Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.

“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.

Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.

“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.

“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”

The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”

Our family matters legal consultant

Name: Hassan Mohsen Elhais

Position: legal consultant with Al Rowaad Advocates and Legal Consultants.