Education Minister: 24-hour economy will be private sector-led

The Minister of Education and Member of Parliament for Tamale South, Haruna Iddrisu has disclosed that the newly launched 24-hour economy initiative by President John Dramani Mahama will be driven primarily by the private sector, not dominated by government.

President John Dramani Mahama on Wednesday, July 2, 2025 launched the 24-hour policy. The government believes the policy will create employment and change the lives of Ghanaian people.

The Minister made these remarks following the official unveiling of the 24-Hour Economy and the Accelerated Export Development Initiative by President Mahama on Tuesday, July 2. According to him, the two policies form part of a bold and deliberate effort to wean Ghana off its heavy dependence on imported goods and build a self-reliant, food-sufficient economy

He further revealed that the 24-hour economy is intended to respond directly to the country’s import burden, citing over $3 billion spent annually on rice imports, $3.4 billion on cereal grains, $2.6 billion on frozen poultry, and $2.4 billion on sugar.

“Today we had a rare opportunity of President John Dramani Mahama launching one of his major flagships, and I see himself describe it from policy, or from slogan, to action, 24-hour-plus initiative of the president. For John Dramani Mahama, the President of the Republic, this was not a nerve-breaking exercise at all. He launched the 24-hour policy and the Accelerated Export Development Initiative of his government and shared with the Ghanaian people that this has been in his thinking and contemplation in the last four or more years.

“He’s thought about it while he’s been out of government as President of the Republic, and expedited by the circumstance of our country — that we still spend huge amounts of money on imports: about 3 billion on rice imports, 3.4 billion on grains, cereal grains, frozen poultry 2.6 billion, sugar 2.4 billion.” He said.

He continued, “The President launched the 24-hour Accelerated Export Development Policy with conviction and belief, and as he said, this is not an event or a race which must end today. What I deducted from the President’s line of this twin initiative — 24-hour Economy, Accelerated Export, it means that the President wants to respond to a national need, a need for us to invest more, in his words, to have a self-reliant, dependent, food-sufficient producing country that can feed itself; a country that guarantees food security.

“For the present now, he simply cannot understand why we should be an import-dependent economy, and that what is it that we can produce? He would provide guidance and leadership as President.”

To lead the implementation of the 24-hour economy, President Mahama has appointed veteran politician and strategist Goosie Tanoh as the anchor. The Minister lauded this decision, describing Tanoh as “one of the sharpest and most brilliant minds of the NDC.” Hon. Haruna Iddrisu reiterated that the government will only be a facilitator, while the private sector will lead the 24-hour economy initiative.

“That is why he’s gotten  Goosie Tanoh, one of the sharpest and brilliant minds of the NDC, to be the anchor person to guide him in implementing the 24-hour economy and for me, what was profound today is for the president to remark publicly that 24-hour economy will be private sector-led and that it will not be dominated by government.

“Government will only be an enabler, a facilitator for the private sector to take up the initiative in the various sectors of the economy.” He stated.

Source: Elvisanokyenews.net