Njourkone Mathew has defended the government’s pace in rolling out its flagship 24-hour economy policy, insisting that the initiative cannot be implemented in isolation without first stabilising the broader economic and structural environment.
Speaking on The Bulletin on Monday (12 January), Mathew said critics of the policy have failed to acknowledge the economic conditions inherited by the current administration, including high inflation, a high cost of living, and weak market systems.
“This is a government that inherited high inflation and a high cost of living. You cannot just kick-start a project that is meant to retool the entire economy without first addressing these challenges,” he said.
He stressed that the 24-hour economy is not a standalone programme but one that must be implemented alongside other reforms, including market restructuring, legislation, electrification, and decentralised infrastructure development.
“You cannot have a 24-hour economy when the market system is not in place. You cannot have it when the structures are not ready. It must be done in consolidation with other activities the government is undertaking,” Mathew explained.
Addressing concerns that the policy has yet to translate into visible job creation, he disclosed that 192 companies have so far applied to be integrated into the 24-hour economy framework, describing this as an indication that the policy is gradually taking shape.
He also rejected claims that the government has abandoned its campaign promise, arguing that the country has moved beyond simplistic definitions of the policy.
“The country has moved on beyond the narrow definition of a 24-hour economy. You cannot measure it in isolation. It must be linked to the broader goal of stabilising and growing the economy,” he noted.
Mathew acknowledged public impatience but urged Ghanaians to give the government time to lay the necessary foundations, likening the process to constructing a building that requires land, materials, and planning before work can begin.
“It’s been one year, yes, but you cannot execute something of this magnitude without first putting the requisite structures in place,” he said.
He further revealed that legislative measures, tax reforms, and decentralised initiatives are already underway to support the policy’s eventual rollout. According to him, municipal and district assemblies have been tasked to facilitate the construction of 24-hour economy markets, with land acquisition, electrification, and the inclusion of essential services such as banks already in progress.
Mathew maintained that investor confidence is gradually returning, with increased interest from both local and foreign investors, which he said would ultimately support the success of the 24-hour economy agenda.
“The government is on course. Confidence is returning to the economy, and people are coming in to help grow it,” he added.
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