Where’s the 24-Hour Economy after GH¢650bn spending? – Oppong Nkrumah

The Ranking Member on Parliament's Economy and Development Committee, Kojo Oppong Nkrumah, has questioned the implementation of the government's flagship 24-Hour Economy programme, arguing that nearly two years into the National Democratic Congress (NDC) administration, there is little evidence that the policy has delivered on its core promises of industrialisation and job creation.

Speaking on the floor of Parliament while seconding a motion for the adoption of the Economy and Development Committee's report, the former Information Minister said the government has failed to demonstrate any meaningful implementation of the policy despite Parliament approving approximately GH¢650 billion in public expenditure over the past two years.

Mr. Oppong Nkrumah recalled that the 24-Hour Economy was presented during the 2024 election campaign as a transformative economic strategy designed to boost industrial production, increase productivity and create thousands of jobs.

According to him, the programme was built around the "one job, three people, three shifts" (1-3-3) model, under which businesses and public institutions would operate around the clock through multiple work shifts.

However, he argued that the government has yet to identify a single public institution operating under that framework.

"For all the stories that were told and all the promises that accompanied the 24-Hour Economy, almost two years after assuming office, there is not one government agency implementing the one-three-three model," he told Parliament.

He noted that the Minority had consistently called on the government to submit its major policy frameworks to Parliament for scrutiny, adding that while the 24-Hour Economy document had eventually been presented, its implementation remained largely absent.

The Ofoase-Ayirebi MP said discussions within the committee suggested that government is now focusing on two new pillars of the programme—developing 24-hour markets and creating incentive packages for private sector operators.

He questioned whether constructing new markets alone would automatically generate continuous commercial activity.

Drawing from his constituency, he noted that Ayirebi already has a modern market that remains largely inactive outside its designated market days.

According to him, similar situations exist across many districts in Ghana, where market activity is limited despite the availability of infrastructure.

He argued that expanding economic activity requires increased production, stronger consumer demand and deliberate industrial policies rather than simply building additional markets.

Mr. Oppong Nkrumah also criticised the government for acknowledging that the fiscal and regulatory incentives needed to encourage businesses to operate 24-hour production schedules are still being developed.

He said the delay raises concerns about the government's priorities, arguing that private investors cannot commit to expanding operations without clear policy certainty.

According to him, businesses require predictable tax incentives, financing arrangements and regulatory support before investing in additional production lines, machinery and workers.

He warned that prolonged delays risk undermining confidence in the programme among both domestic and foreign investors.

The Ranking Member further argued that the introduction of the 24-Hour Economy effectively displaced the One District, One Factory (1D1F) programme, which he believes had already begun delivering measurable industrial outcomes.

Citing the National Development Planning Commission's (NDPC) Annual Progress Report for 2024, published in June 2025, Mr. Oppong Nkrumah said the report indicated that 150 One District, One Factory projects were operational by the end of 2024.

He stressed that those figures came from an official government publication rather than the Minority.

According to him, instead of abandoning the programme, government should have improved and expanded it by addressing any implementation challenges.

He maintained that replacing an existing industrial policy with one whose major implementation components remain under development has created uncertainty within the manufacturing sector.

Mr. Oppong Nkrumah warned that delays in implementing an effective industrialisation strategy have direct consequences for employment, particularly among young people.

Referring to data from the Ghana Statistical Service, he said youth unemployment has risen to approximately 32.4 per cent, describing the situation as a major national concern.

He argued that every delay in expanding manufacturing and industrial production translates into lost employment opportunities for thousands of young Ghanaians entering the labour market.

The former Information Minister also cited the country's automobile assembly programme, noting that incentives introduced under the previous administration had encouraged global vehicle manufacturers to establish assembly plants in Ghana.

He claimed those incentives have since been suspended under the government's economic reset agenda, adding that companies operating within the automotive sector have expressed concerns about the policy changes.

According to him, maintaining investor confidence requires consistency in industrial policy and sustained support for sectors with strong employment potential.

While supporting Parliament's adoption of the committee's report, Mr. Oppong Nkrumah urged the government to review its industrialisation strategy, restore investor confidence and accelerate practical measures aimed at expanding production and creating jobs.

He maintained that economic transformation must be measured by tangible outcomes such as factories, increased industrial output and sustainable employment rather than campaign promises.

The Minority MP concluded that Ghana's industrial agenda cannot afford prolonged policy delays at a time when youth unemployment remains high and the country urgently needs stronger economic growth.