As Buhari resumes office

With an official letter transmitted to the National Assembly, President Muhammau Buhari resumed his elected duties as commander-in-chief of Nigeria after a two month medical leave in London. However, what is uppermost on many people’s mind is if the governance momentum gained in his absence would be sustained.

Vice President Yemi Osinbajo’s stride in an Acting-president capacity nearly created friction in the presidency. It took a statement from the VP to reduce insinuations in many quarters that he was outperforming the elected President.

To start with, shortly after the President went on vacation, the naira began to strengthen against the dollar as a result of new forex policies from the Central Bank of Nigeria. Prior to going on leave, the naira was trailing over N500 to the dollar. However, as at Tuesday – the President’s first day at work, the naira has reversed to N460 to the dollar.

The VP also had the opportunity to visit more states in the Niger Delta and carry out direct discussions with community leaders in these places while the President Buhari was away. On one of the trips, a Niger Delta High Chief declared ‘permanent peace’ in the region also stating that the existing ‘cease fire’ between the government and the militants remains ‘unbroken’.

Following the visit and the ‘unbroken ceasefire’ Nigeria’s oil production rose to 2.1 million barrels a day from 1.8 million.

The Acting President’s influence also came to play on the ease of doing business index in Nigeria. His efforts has led to the announcement from Corporate Affairs Commission (CAC) that applicants seeking to register companies in Nigeria can now do so by completing only one form instead of the several forms including CAC 2, 2.1, 4 and 7.

Furthermore, under his chairmanship, the Presidential Enabling Business Environment Council approved a 60-day national action plan for ease of doing business. The plan had the mandate to address three critical areas to the ease of doing business in the country: entry and exit of good, entry and exit of people as well as government transparency and procurement. As a result of the action plan, the Nigerian immigration released a one card that facilitates entry and exit into the country and drastically reduces the stress that people go through.

All that momentum could be sustained or become a thing of the past now that President Buhari is back in the saddle. It is the still early to predict, but would sustain the momentum?

 

FRANK UZUEGBUNAM