By Daniel Bampoe
Former Information Minister and Member of Parliament for Ofoase-Ayirebi, Kojo Oppong Nkrumah, has launched one of the strongest critiques yet against the Mahama administration’s flagship 24-hour economy policy, describing it as a political strategy crafted to win votes rather than a policy designed for delivery, and accusing the National Democratic Congress (NDC) of misleading young Ghanaians during the 2024 election campaign.
Speaking in a wide-ranging media interview following the passage of the 24-Hour Economy Authority Bill, 2025, Oppong Nkrumah argued that the policy lacked the economic architecture, fiscal foundation, and demand-side framework necessary to make a true round-the-clock economy viable.
According to him, the National Democratic Congress government sold an attractive political message to unemployed youth without building the structural and financial systems required to sustain it.
“They knew very well they were not prepared to deliver a 24-hour economy,” he said, insisting that the policy was designed more as an electoral tool than a practical economic programme.
From Campaign Symbol To Legislative Reality
The 24-hour economy policy was one of the most visible campaign symbols of the NDC in 2024, anchored on the “1-3-3” model—one job, three workers, three shifts—presented as a direct solution to youth unemployment. The TUC even at the time without verifiable documentation described it as a game-changer.
The message was simple, visual, and politically powerful: continuous production, expanded employment, and a non-stop economy.
However, Oppong Nkrumah maintains that the legal and policy instruments now being introduced bear little resemblance to what was promised.
He pointed out that two national budgets were prepared before a comprehensive foundation policy document was developed, calling the process “backward planning” that contradicts sound economic governance.
“We are two budgets into their four-year cycle, and only now are they trying to build the policy architecture,” he said, describing the approach as fundamentally flawed.
Demand, Not Authority, Builds A 24-Hour Economy
Rejecting the government’s focus on institutional structures, Oppong Nkrumah argued that no 24-hour economy in the world was created through legislation or special authorities, but through demand-driven growth.
He cited global cities such as London, Tokyo, New York and Berlin, noting that none required a statutory authority to function round-the-clock.
According to him, the first requirement of a 24-hour economy is liquidity and purchasing power, not bureaucracy.
“If there is demand, supply will respond naturally—regardless of the hour,” he said, using the example of cold stores and food businesses that stay open late only when customers are present.
He insisted that the government’s current monetary policy direction actively undermines demand, pointing to what he described as the sterilisation of approximately GH¢60 billion from the economy by the Bank of Ghana to control inflation.
While acknowledging sterilisation as a legitimate policy tool, he warned that excessive liquidity withdrawal suppresses purchasing power, weakens consumer demand, and makes continuous economic activity impossible.
“When people say there is ‘no money in town,’ it is not rhetoric. There is no liquidity to generate demand, and without demand, a 24-hour economy cannot exist,” he said.
Broken Promises Beyond The 24-Hour Economy
Oppong Nkrumah broadened his critique beyond the 24-hour policy, citing the cocoa pricing controversy as evidence of what he described as a pattern of political deception.
He recalled NDC campaign claims that cocoa farmers had been “cheated” under previous pricing regimes and the promise to raise cocoa prices to GH¢6,500–GH¢7,000 per bag.
According to him, the government’s eventual price adjustments fell far short of those commitments, reinforcing public distrust.
“They looked cocoa farmers in the eye and made those promises. Today, even the figures delivered do not match what was pledged,” he said.
He further cited reports of unpaid public sector workers, including nurses and midwives who have reportedly worked for months without pay, linking the problem to declining government revenue mobilisation.
Fiscal Constraints And Revenue Decline
Oppong Nkrumah argued that the government’s fiscal policy choices have weakened its capacity to fund its promises.
He explained that government revenue as a percentage of GDP has fallen from about 16% to roughly 11%, translating into an estimated GH¢50 billion revenue gap in an economy approaching GH¢1 trillion in GDP size.
This, he said, explains why the government is reluctant to legally mandate expanded staffing levels and 24-hour operations across public institutions.
“You cannot triple the workforce if you cannot mobilise the revenue to pay them,” he said, arguing that this financial reality explains why key campaign promises were not codified into the law.
The Authority Debate
Although Parliament has now passed the 24-Hour Economy Authority Bill, establishing a statutory body to coordinate implementation, Oppong Nkrumah dismissed the move as institutional symbolism without economic substance.
He argued that the functions assigned to the Authority duplicate the roles of existing bodies such as the Ghana Export Promotion Authority (GEPA) and the Ghana Enterprises Agency (GEA).
In his view, the Authority risks becoming an administrative structure that creates executive positions rather than mass employment.
Political Optics Versus Economic Reality
Oppong Nkrumah concluded that the 24-hour economy narrative is being used to manage public perception rather than transform economic conditions.
“This is about creating impressions, not outcomes,” he said, warning that symbolic institutions cannot replace real economic demand, liquidity, and income growth.
While stating that he would welcome being proven wrong, he maintained that the policy, as currently designed, cannot deliver what was promised.
“If they succeed, I will be happy for the young people who believed in it. But based on the structure, the economics, and the fiscal reality, I do not see how this delivers the jobs that were promised,” he said.
Background Context
The 24-Hour Economy Authority Bill, 2025 was passed by Parliament on February 6, 2026, establishing the legal framework for the Mahama administration’s flagship programme.
The policy targets job creation through a three-shift system, industrial expansion, agro-processing, and export-led growth, supported by incentives such as tax rebates, subsidised night-time electricity tariffs, and decentralised district-level implementation structures.
The full national rollout of the 24-Hour Economy and Accelerated Development Programme is scheduled for July 2, 2026.
However, as political, economic, and social debates intensify, the policy has become one of the most contested initiatives of the Mahama presidency—caught between ambitious political messaging and the realities of economic capacity, demand constraints, and fiscal limitations.
