Negotiating Change: Lessons from Nigeria’s Naira Redesign Policy

In every team, there should be an astute negotiator, who knows what it takes to engage other parties during a no holds barred contest.

The 3 must have negotiation skills for negotiators are: planning and preparation, emotional intelligence to know and unravel other party’s interests, needs, display empathy, and the application of innovative joint problem solving tactics for a win-win option.

When the first protest over the Naira erupted, Mr. President and the economic team should have known that the next phase of the Naira redesign policy was to negotiate with Nigerians.

Our planners failed in planning and preparation, failed the empathy test, and were unable to unravel the needs and interests of majority of Nigerians. These failures led to the huge economic losses across the socio-economic spaces.

I hope we have learned that policies that would impact on the lives of majority of Nigerians need good planning and preparation, empathy and creativity in resolving the challenges that would come in the implementation phase. That is the least social contract they signed and owe the people.

Grace and peace!!!