Hi,
It is in fact a connector for front Instrument panel speakers. The connectors are black with four wires, but only 2 pins (it's a 2-pin connector that's also a splice.)
If you look at the lower dash bezel near the door, you'll notice there is a speaker grille looking cutout in it. This is because the LIMITED edition cherokees came with a 6 speaker sound system, which included a small speaker under the dash on either side. If you don't have speakers there, it's because your cherokee is not the Limited edition
-Nick

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1988 Jeep Cherokee w/ 410,000+ miles. Now a
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