Kojo Oppong Nkrumah
The Member of Parliament (MP) for Ofoase Ayirebi, Kojo Oppong Nkrumah, has criticised the government’s flagship 24-Hour Economy policy, describing it as a programme that has failed to deliver on its promises nearly two years after the National Democratic Congress (NDC) assumed office.
Contributing to the debate on the government’s 24-Hour Economy policy in Parliament, Mr. Oppong Nkrumah argued that despite Parliament approving about GH¢650 billion in public expenditure over the period, there was little evidence that the policy had translated into the promised three-shift (1-3-3) system or meaningful industrial expansion.
According to him, the government has shifted attention to the construction of 24-hour markets and the promise of future incentives for the private sector instead of implementing measures capable of driving industrial production and job creation.
He described the proposed investment in 24-hour markets as an imprudent policy measure, arguing that infrastructure alone could not create demand for continuous trading without broader economic reforms.
The former Information Minister also criticised what he described as delays in introducing incentives for the private sector, saying government officials had admitted during committee deliberations that the incentive package was still being prepared.
He maintained that such incentives should have preceded implementation of the policy rather than being introduced almost two years into the administration.
Mr. Oppong Nkrumah further urged the government to reconsider its decision to abandon the One District, One Factory (1D1F) programme, arguing that the initiative had already established a framework for industrialisation.
Citing the National Development Planning Commission’s 2024 Annual Progress Report, he said at least 150 1D1F factories were operational by the end of 2024 and contended that dismantling the policy architecture had stalled industrial growth.
He recommended that the government revive the programme and make any necessary improvements instead of replacing it with a policy that, in his view, had yet to produce tangible results.
Mr. Oppong Nkrumah warned that the absence of a robust industrial policy was worsening youth unemployment, which he said stood at 32.4 percent, citing figures from the Ghana Statistical Service (GSS).
He maintained that every day without an effective industrialisation programme represented lost employment opportunities for thousands of young Ghanaians.
Responding to the criticism, the Minister for Education, Haruna Iddrisu, insisted that the 24-Hour Economy extends far beyond the construction of markets.
He explained that the proposed 24-hour markets formed only one component of the broader Accelerated Export Development Programme aimed at stimulating domestic trade, promoting import substitution and expanding Ghana’s exports.
Mr. Iddrisu also rejected claims that the government had failed to submit its coordinated programme of economic and social development policies to Parliament, stating that the document had been laid before the House in February in fulfilment of constitutional requirements.
On the issue of industrialisation, he acknowledged the need for stronger incentives to support the private sector but disputed suggestions that the 1D1F initiative had successfully addressed unemployment.
He challenged proponents of the programme to demonstrate the number of jobs it created and its contribution to gross domestic product (GDP), arguing that unemployment remained high even under the previous administration.
The Education Minister nevertheless agreed that the government must prioritise job creation and work with the Ministries of Finance and Trade, Agribusiness and Industry to ensure that the incentive regime under the 24-Hour Economy supports businesses and accelerates export-led industrial growth.
By Ernest Kofi Adu, Parliament House