The Institute of Economic Research and Public Policy (IERPP) has challenged President John Dramani Mahama’s administration to account for the $4 billion 24-Hour Economy programme before proceeding with its proposed $10 billion New Economy initiative.
The institute is demanding a detailed account of funds secured and disbursed, projects implemented and jobs created under the 24-Hour Economy programme, arguing that the government must demonstrate results from its existing commitments before announcing a larger investment plan.
Speaking at a press conference in Adabraka, Accra, on Tuesday, October 27, 2026, the Executive Director of IERPP, Professor Isaac Boadi, questioned the credibility of introducing a new economic initiative without providing a comprehensive report on the performance of the existing programme.
He said Ghanaians deserved evidence that the government’s economic promises were translating into measurable benefits, particularly sustainable employment for young people.
“The era of announcing numbers must end. The era of accounting for results must begin,” Prof. Boadi said.
The concerns follow the government’s announcement of plans to mobilise $4 billion over four years for the 24-Hour Economy programme, which President Mahama launched on July 2, 2025.
The initiative, officially known as the 24-Hour Economy and Accelerated Export Development Programme, or 24H+, is intended to expand production, boost exports, attract private investment and create jobs.
At the time, Presidential Adviser on the 24-Hour Economy, Augustus Goosie Obuadum Tanoh, announced the $4 billion financing target, while Abdul-Nasser Suglo Alidu, then Head of Strategy and Programmes at the programme’s Secretariat, set a target of at least 1.7 million jobs within four years.
However, Prof. Boadi said the government had yet to provide independently verified figures showing how many jobs had been created under the initiative.
He cited a report published by MyJoyOnline on October 19, 2026, in which Mr. Suglo Alidu reportedly acknowledged that the Secretariat could not provide a total figure for jobs created.
“I won’t be able to give you a number in terms of the total number of jobs the 24-hour economy created. We don’t want to throw numbers around,” Mr. Suglo Alidu was quoted as saying.
Prof. Boadi argued that the absence of verified employment figures made it difficult for Ghanaians to assess progress towards the programme’s 1.7 million-job target.
He also questioned claims that project agreements worth approximately $5.5 billion had been signed under the programme in July 2026, with four projects expected to generate more than 160,000 direct jobs.
According to him, the government must clarify how much of the reported amount represents binding financing commitments, how much has actually been disbursed and which projects have progressed to implementation.
He cautioned that signed agreements and projected employment figures should not be presented as evidence of completed investments or jobs already created.
The institute is therefore demanding a breakdown of the original $4 billion financing target, including funds pledged, secured, released and spent, as well as details of projects completed and those yet to begin. It also wants the government to distinguish between permanent, temporary and indirect jobs and employment opportunities that remain projections.
Prof. Boadi further raised concerns over an alleged discrepancy in the 2026 Budget documents regarding funding for the 24-Hour Economy programme.
He said the detailed expenditure table in the Budget presented by Finance Minister Dr. Cassiel Ato Forson on November 13, 2025, listed GH¢90 million for the programme, comprising GH¢70 million for goods and services and GH¢20 million for capital expenditure.
However, he said the Budget Speech cited an allocation of GH¢110 million.
The institute is calling on the government to reconcile the figures and disclose how much money has actually been released and spent.
It also wants the government to explain what measurable outcomes have been achieved with the funds allocated to the programme, stressing that a budgetary allocation does not necessarily mean the entire amount has been released or spent.
The demands come as the government prepares to advance its proposed $10 billion New Economy initiative, which President Mahama announced on August 14, 2026.
The proposed programme is expected to run over four years, with an estimated $2.5 billion allocated annually across seven priority sectors. Agriculture and agro-processing are expected to receive $5 billion.
While acknowledging the importance of productive investment, Prof. Boadi questioned the timing of the announcement, given the outstanding questions surrounding the 24-Hour Economy programme.
He said the government should publish a clear financing and implementation plan, including the expected contributions from government, private investors, development partners and financial institutions.
The institute also wants the administration to explain whether the programme could create additional financial obligations for the state and what safeguards would ensure that the investments deliver sustainable economic benefits.
Prof. Boadi noted that the Finance Minister had indicated that consultations on the proposed initiative were ongoing, with further details expected in the 2027 Budget.
The IERPP is consequently calling for a comprehensive report on the 24-Hour Economy programme, independently verifiable employment figures and clarification of the conflicting budget allocations.
It is also proposing a public dashboard, supported by periodic independent audits, to track financial commitments, disbursements, project milestones and jobs created.
Prof. Boadi maintained that the government must demonstrate what it has achieved under the 24-Hour Economy programme and explain how those results will inform the proposed New Economy initiative.
He warned that announcing ambitious financial targets without publishing comprehensive progress reports could undermine public confidence in government programmes, insisting that transparency, financial accountability and measurable results must guide both initiatives.
