BY ISSAH OLEGOR
The NDC government’s flagship 24-Hour Economy Programme was not originally conceived by the current John Mahama administration, but was drawn from long-term 48-Year Development Plan, according to Chairman of the National Development Planning Committee (NDPC), Dr Nii Moi Thompson.
Dr Thompson said the 24-hour economy was among the few major initiatives from the long-term development framework that had subsequently found its way into government policy, despite the broader 48-year plan not being enacted into law.
His comments offer a different perspective on the origins of one of the Mahama administration’s most prominent economic policies, which has been presented as a strategy to stimulate production, expand business activity and create employment by encouraging selected sectors to operate around the clock.
Speaking on Joy News, Dr Thompson explained that the concept did not originate from the current administration’s second-term policy formulation process but was contained in the long-term development framework.
“Actually, the 24-hour economy came from the 48 Development Plan. It’s one of the few things that have actually come out of it.”
He explained that the 48-Year Development Plan was intended to provide a comprehensive long-term development direction for Ghana, but the framework was ultimately not legislated in its entirety.
According to him, although the full plan did not receive the legislative backing originally envisaged, the National Democratic Congress (NDC) government subsequently adopted some of the initiatives contained in it, including the 24-hour economy.
“But the 48 Development Plan, as in its entirety, should have been legislated, but it wasn’t. But the government, the NDC, took that out of the 48 Development Plan,” he said.
Other government initiatives linked to the plan
Dr Thompson said the influence of the long-term development framework extends beyond the 24-hour economy.
He cited the establishment and naming of the Ministry of Sports and Recreation as another initiative whose origins could be traced to the 48-Year Development Plan.
“The name of the Ministry of Sports and Recreation came from the 48 Development Plan,” he stated.
He also pointed to the Ghana Agency for Development Cooperation, which he said was being developed through collaboration involving the National Development Planning Committee and the Ministry of Foreign Affairs.
According to Dr Thompson, the proposed agency is expected to contribute to Ghana’s international engagement and the country’s efforts to build soft power within the global system.
“We have something known as the Ghana Agency for Development Cooperation, which is currently under development between NDPs and the Ministry of Foreign Affairs, to help form soft power for Ghana and Global Affairs,” he said.
Nii Moi Thompson backs progress but urges SME focus
While defending the progress made in implementing the 24-hour economy, Dr Thompson said the programme should not be judged solely by the immediate performance of large businesses and major investments.
He said, from the perspective of those responsible for developing the concept, considerable work had already been done, particularly in assembling investments across different sectors of the economy.
“From the perspective of those who came up with the idea, I think they’ve done pretty well,” he said.
Dr Thompson explained that the programme spans businesses of different sizes, ranging from small enterprises to large corporations, and cautioned that major investments often require considerable time before their full economic impact becomes visible.
“You have to understand that they are operating across a spectrum of businesses, from small to large,” he said.
He added that large-scale investments typically have a longer gestation period before they begin generating their expected returns and employment opportunities.
“Usually, it takes the gestation period for big businesses to take a while to get, and I think they put a lot of effort into it. They’ve lined up a lot of investments. It will take a while for those to catch on,” Dr Thompson explained.
