Parliament Passes 24-Hour Economy Authority Bill to Drive Jobs and Economic Growth
Majority Leader Mahama Ayariga presents business statement for the second week.
Accra, Ghana- Parliament has passed the 24-Hour Economy Authority Bill, providing the legal framework to formalise and coordinate the implementation of the government’s flagship 24-hour economy policy.
The passage of the bill marks a major legislative milestone for the National Democratic Congress (NDC), which campaigned on the promise of transforming Ghana into an economy that operates around the clock to expand employment opportunities and revive industrial productivity.
Addressing the media after the bill was approved, Majority Leader Mahama Ayariga said the new authority would serve as the central body to anchor, regulate, and coordinate policies required to transition the country into a full 24-hour economic system.
He said unemployment remains one of the most pressing challenges facing the country, noting that years of economic instability, high inflation, excess taxation, and currency volatility had forced several factories to shut down or relocate, leaving many Ghanaians without jobs.
According to him, the situation was worsened by the financial sector clean-up, which led to the collapse of several financial institutions and resulted in the loss of hundreds of thousands of jobs, both directly and indirectly.
“We took over on the back of such an economic mess, and unemployment is a major issue. The NDC admits that we have a problem of unemployment,” he said, adding that the government had already begun addressing macroeconomic challenges to stabilise the economy and allow industry to grow.
Mahama Ayariga explained that the government has injected significant capital into state-owned banks, including the Agricultural Development Bank (ADB) and the National Investment Bank (NIB), to revive the financial system and improve private-sector access to credit.
He said the establishment of the 24-Hour Economy Authority was necessary to provide the legal mandate required under Ghana’s constitutional system, stressing that major national programmes must be backed by law to ensure accountability and continuity.
“That is why it is a matter of great joy that Parliament has passed the 24-Hour Economy Authority Bill to provide the regulatory regime and legal mandate for the formalisation and implementation of the 24-hour economy,” he stated.
The Majority Leader commended the technical team at the Presidency responsible for developing the bill, noting that it was passed with minimal amendments, which he described as evidence of thorough preparatory work.
He assured the leadership of the new authority of Parliament’s full support, saying the Majority caucus and the broader NDC membership remain committed to delivering on the promise made to Ghanaians during the elections.
The bill establishes the authority as the central coordinating body to align policies, programmes, and investments, enabling businesses, public institutions, and industries to operate efficiently across shifts throughout a 24-hour cycle.
With the bill now passed, the government is expected to move swiftly to operationalize the authority and roll out the first phase of implementation.
Read Also
