EDITORIAL: The President’s Speech

 

EACH generation must discover its mission, fulfill it or betray it, in relative opac – Franz Fanon 

The observation of the psychiatrist political analyst, Franz Fanon, comes back to the fore as we navigate a decisive week ahead and understand the import of the address by President Muhammadu Buhari to the nation yesterday.

The speech was more of a nation of the address rather than a routine broadcast, it edified the authority of the president and soothed the frayed nerves of a nation on edge. Kudos to Mr President. 

The president was honest enough to admit that there is a lot wring and apologised to the nation. The intellectual honesty shown is highly commendable and the media team should emulate.

President Muhammadu Buhari, yesterday morning, in a nationwide broadcast, Thursday, February 16, 2023, directed the Central Bank of Nigeria (CBN) to release old N200 notes into circulation to co-exist with new N200, N500, and N1,000 banknotes for 60 days.

The president, however, said old N500 and N1,000 banknotes are no longer legal tender in Nigeria. 

The president in his address was taking on issues as it were on two fronts. In the first instance, he was justifying the thrust of the government’s monetary policy and on the other hand navigating the twists and turns of the political season. The two of course are interwoven. 

The president as a pointer to the future should have focused on and indeed emphasised the failure of institutions. Institutions and regulatory agencies in particular have not lived up to expectations. The painful unintended circumstances of this is the misdirected aggression which has led to mayhem on the streets in several states, resulting in the loss of lives and economic dislocation. All of this should have been avoided. Because if the absence of scenario planning as well the inadequacy of project management what should have been a currency swap is now been interpreted as a confiscation of the medium of exchange demonstrating a pathetic communication muddle up.

Things must change and strategic institutions of the state have to be rebuilt, starting with the methods of recruitment and selection.

The president correctly emphasised that all citizens should be up and doing and exercise their civic responsibilities in next week’s election. He is right, next week should be a decisive turning point for the nation, it is an opportunity for a rebirth by examining the options available to achieve a more equitable society anchored on social justice. 

As we match on those who might wish to use the current dishevelment to truncate the democratic process must be prevented from doing so. The security services must be eternally vigilant and proactive. We wish the republic well in the momentous weeks ahead and advise eternal vigilance to safeguard our hard worn democracy.