By Francis Ntow, GNA
Accra, Oct 21, GNA – Professor Godfred Alufar Bokpin, an Economist, has proposed a phased implementation of the Government’s flagship 24-hour economy policy, backed by dedicated yearly allocation in the national budget.
Prof Bokpin said doing so would provide a binding framework for effective implementation, shifting the programme from a political promise to a national scheme that would deliver better outcomes.
The professor of finance at the University of Ghana Business School (UGBS) spoke exclusively with the Ghana News Agency in Accra on Tuesday, arguing that the current structure lacked design, financial backing, and enforceable framework.
“The way to carry it out is to segment it and say it will be implemented in phases through the budget. Each phase should be clearly expressed in the budget with ministerial responsibility,” Prof Bokpin said.
Launched in July 2025, the 24-hour economy policy was designed to create an economy that operates around the clock, making Ghana self‑reliant and export‑driven through multisectoral productivity and industrialisation, while creating jobs.
In a July update, the 24-Hour Economy and Accelerated Export Development Secretariat said some 268 filling stations and 33 manufacturers were running the intended 1-3-3 shift system, with more than 160,000 direct jobs created.
The Secretariat said the initiative has also signed a US$5.5 billion, within a project pipeline of US$11.5bn, including the Buipe solar and battery project and Kambonwule oil palm complex, targeting 133,000 jobs.
The other projects – the bioenergy programme at Buipe and Damanko was expected to create 30,000 jobs and save the country about US$450 million a year in foreign exchange and generate export earnings.
Assessing the implementation over the past over the past 15-months, Prof Bokpin noted that there was no substantial paper from government that could be referenced as its performance against the promised three-shift system.
He argued that the diagnosis and some recommendations under the policy were good but came across as a campaign promise than a well-thought-out programme of government, advocating sectoral integration.
“The 24-hour economy policy was not a programme that was going to be binding on government. The design and all of that was not properly costed and structured for implementation,” he said.
“The only means by which political manifestos find expression is through the budget, as it is the only medium through which government policies are implemented.”
He criticised the Government’s decision to set up a 24-Hour Economy Secretariat to oversee the programme’s implementation, instead of integrating it into existing architecture of related ministries.
He mentioned that all eight pillars of the programme – Grow 24, Make 24, Build 24, Show 24, Connect 24, Fund 24, Aspire 24, and Go 24 – could be linked to the Ministry of Food and Agriculture, Ministry of Agribusiness, Industry and Trade and others.
“We have been implementing programmes since independence, how many secretariats and authorities have we set up just to implement government policy like this?” he asked, saying, such establishments were not antidotes to effective implementation.
Prof Bokpin recommended incorporation of the 24-hour economy and the New Economy into the 2027 budget, with proper costing, phasing and alignment to existing ministries, rather than parallel structures.
GNA
Edited by Agnes Boye-Doe
Reporter: Francis Ntow
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