Dr Amin Adam accuses Mahama government of rebranding failed 24-Hour Economy

Former Finance Minister Dr Mohammed Amin Adam has accused the government of repackaging its 24-hour economy programme as the New Economy Programme, arguing that the initiatives announced in the 2027 Budget largely repeat policies introduced under the earlier programme. He said a comparison of the 24-hour economy policy booklet, launched in July 2025, with Section Three of the 2027 Budget showed that six of the New Economy pillars had already been outlined under the previous initiative. 'Account for failed 24-Hour Economy' - Dr Amin Adam to Finance Minister Speaking on the Asaase Breakfast Show on Friday, November 13, 2026, Dr Amin Adam identified agriculture, textiles, pharmaceuticals, tourism, culture, technology and energy-related interventions as areas of overlap. “So if you put the 24-hour economy booklet, which was launched in July 2025, and match it against Section Three of the budget, which focuses on the New Economy, you will see that six of the pillars in the New Economy match the 24-hour economy programmes,” he said. He cited the Afram Plains and Volta Basin irrigation, mechanisation and processing projects, which he said had reappeared as rice development hubs under the New Economy. He also pointed to greenhouse and urban vegetable farming initiatives, which he said had been renamed vegetable enclaves and protected cultivation. “These are all programmes under the 24-hour economy booklet which have been repackaged, rehashed under the New Economy, and some of them have actually been renamed,” he said. The former minister questioned whether the rebranding was an admission that the 24-hour economy programme had failed. “The 24-hour economy has failed, and the government just simply needed to come and rebrand it with a new slogan,” he said. He further questioned the government's ability to finance the New Economy, which is expected to cost $10 billion, compared with the estimated $4 billion for the 24-hour economy programme. “We said a government that could not deliver a $4 billion 24-hour economy is admitting that it has failed, and now it has renamed it as New Economy, which now costs $10 billion. How can that government get the money to do the $10 billion New Economy?” he questioned. Dr Amin Adam also raised concerns about the budgetary allocations to ministries expected to implement the programme. He cited the GH¢2.9 billion allocated to the Ministry of Food and Agriculture, including GH¢515 million for fertiliser and seeds, and the GH¢188 million allocated to the Ministry of Trade, Agribusiness and Industry. He questioned how those allocations would support the proposed $3 billion agricultural pillar. “The Ministry of Agriculture is allocated 2.9 billion Ghana cedis, of which 515 million Ghana cedis is for fertiliser and seed. And the Ministry of Trade, Agribusiness and Industry is allocated 188 million Ghana cedis,” he said. He also questioned the GH¢186 million allocated to the Ministry of Tourism, Culture and Creative Arts, despite the proposed $1 billion tourism pillar. Additionally, he criticised the GH¢165 million allocation to the 24-hour economy secretariat, questioning why it was still being funded if its programmes had been incorporated into the New Economy. “You’ve collapsed the programme. You’ve moved the 24-hour economy programmes to the New Economy, and then you allocate money to the secretariat of the 24-hour economy. To do what?” he asked. Although he said the Minority would welcome the successful implementation of the New Economy, he remained sceptical about the government's ability to fund and execute it. NA/BAI Dr Cassiel Ato Forson presents the 2027 Budget Statement and Economic Policy Source: www.ghanaweb.com
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