The Minority’s description of the 24-hour economy policy as a gimmick, despite its passage in Parliament, has been described as bizarre and unfortunate.
The National Democratic Congress (NDC) maintains that the policy is designed to create an enabling economic environment for businesses to thrive. According to the party, the newly established authority will provide monitoring, evaluation, and strategic direction, supported by an efficient tax system with incentives, reliable electricity supply, improved transportation, and enhanced security.
The Member of Parliament for Atebubu-Amantin and Vice Chairperson of Parliament’s Lands and Natural Resources Committee, Sanja Nanja, made these remarks on the Adekyee Mu Nsem morning show on Ahotor 92.3 FM in Accra, hosted by Citizen Kofi Owusu.
He reiterated that the policy is a game changer. According to him, following the establishment of the authority, a comprehensive policy document has been developed under the 24-hour economy initiative, complete with incentive packages to support existing institutions that are ready to begin implementation. He emphasized that these measures are intended to ensure the smooth and successful operation of the policy.
Meanwhile, the Member of Parliament for Ofoase-Ayirebi, Kojo Oppong Nkrumah, has stated that while the proposed 24-hour economy is achievable, its success depends on effective demand.
The 24-hour economy is one of the flagship policies of President John Dramani Mahama’s administration. It seeks to enable businesses to operate around the clock. After extensive parliamentary debate, the bill was passed and an authority was established to oversee its implementation.
However, in an interview, the former Information Minister questioned the economic rationale for promoting round-the-clock operations without sufficient consumer demand.
“GIHOC announced that they were doing 24 hours; a few moments later, the MD came back to say they were going to cut back on the 24-hour shift because it did not make economic sense to run 24 hours,” he said.
“Let’s go there to see whether indeed there will be customers showing up beyond the 8-hour shift to carry out these transactions they talk about.”
Mr. Oppong Nkrumah stressed that while the concept is workable, it must be grounded in strong economic fundamentals.
“So, it is doable, but it must be premised on effective demand. When you have created an economy that has demand, you do not need to set up an authority to tell people to work 24 hours,” he stated.
Providing a practical example, he added: “If you run a cold store and at 11:50 p.m. there are people in front of your shop with cash in their hands, would you close your store? The other day in Parliament, we gave examples of cities running a 24-hour economy, but none of them set up an authority. You focus on creating demand.”
In a related development, Presidential Advisor on the government’s 24-Hour Economy, Goosie Tanoh, clarified that the policy is intended to encourage voluntary expansion of production rather than compel businesses to operate around the clock.
Mr. Tanoh explained that the government’s approach focuses on creating the right economic conditions for companies to grow, invest, and employ more workers. According to him, the success of the 24-Hour Economy hinges on improved productivity, increased industrial capacity, and a business climate that makes expansion financially viable.
He stressed that when firms are operating at optimal levels and see clear benefits in scaling up, they will naturally introduce additional shifts without government directives.
In that regard, he emphasized that the policy is not about coercion but about stimulating investment and strengthening the broader incentive framework that supports private-sector growth.
“If an economy is operating at full capacity, nobody is going to tell industry to do shifts. It is a function of capacity, it is a function of the investment regime and the incentive regime that allows companies to take that decision.
“Companies operate on the margin. If the marginal cost of hiring more people and producing the next unit of output is less than the marginal revenue, they are not going to hesitate. So you can’t force anybody to run three shifts. What you need to do is create the incentive and environment that allows them to do that.”
Mr. Tanoh’s clarification follows President John Dramani Mahama’s signing of the 24-Hour Economy Authority Bill into law on Thursday, February 19.
The legislation establishes the institutional framework expected to coordinate the implementation of the policy, a flagship economic programme of the NDC administration.
The government argues that the initiative will boost productivity, expand exports, and create jobs by encouraging industries, logistics providers, and service sectors to operate beyond traditional working hours.