Account For Old Promises Before ‘New Economy’ – Oppong Nkrumah To Ato Forson

Kojo Oppong Nkrumah

The Member of Parliament for Ofoase-Ayirebi and Ranking Member on Parliament’s Economy and Development Committee, Kojo Oppong Nkrumah, has charged the Minister for Finance, Dr. Cassiel Ato Forson, to account for existing economic promises before unveiling what government calls the “New Economy.”

Mr Oppong Nkrumah said while creating jobs, increasing domestic production and reducing import dependence are desirable goals, the government must first show measurable results from programmes it introduced after assuming office.

His comments follow stakeholder engagements by Dr Forson with the Association of Ghana Industries, the Trade Ministry and the banking sector on the emerging economic strategy, whose full details are expected in the 2027 Budget.

“I agree with that goal, and so would most Ghanaians,” the MP said, noting that programmes like One District One Factory and Planting for Food and Jobs pursued similar objectives.

He said government campaigned on several programmes promising jobs, financing and industrial transformation, but many have not produced verifiable results.

On the flagship 24-Hour Economy Programme, which promised 1.7 million jobs by end of 2028 with a GH¢110 million allocation for 2026, Mr Oppong Nkrumah questioned government’s claims.

He said when he sought information in July, the Secretariat cited 268 filling stations and 33 manufacturers operating in shifts, arguing that many filling stations were already operating at night before the current administration took office.

He also questioned 160,000 jobs linked to recently signed agreements, demanding evidence of workers, employers and SSNIT contributions.

“I described those numbers at the time as audio announcements, and I stand by it,” he said.

On the Women’s Development Bank, he said the bank had not lent a single cedi despite GH¢51.3 million allocated in 2025 and several hundred million cedis in 2026, and GH¢400 million deposited at the Bank of Ghana as capital.

The institution, incorporated in January 2026, is still awaiting a banking licence while women’s groups including NETRIGHT have called for accelerated action.

On the One Million Coders Programme, targeting 300,000 participants in 2026, government reported by mid-year 140,000 registrations, 40,000 enrolments and about 28,000 completing at least one module.

Mr. Oppong Nkrumah said completing one module does not make one a coder, and no figure has been published on jobs secured.

He also cited the Feed Ghana Programme’s Nkoko Nkitinkiti poultry component, where the Agriculture Minister told Parliament’s Assurances Committee some beneficiaries consumed the birds instead of rearing them.

The Poultry Farmers Association described the first phase as an “abysmal failure,” though government maintains it is successful and points to falling poultry prices.

He further said government confirmed cattle, goat, sheep and pig components of Feed Ghana have not started, and raised concerns about the GH¢6,000 cocoa price promise which he said has been reduced.

‘New Economy’

Questioning the New Economy, which could involve about US$10 billion over four years for commercial agriculture, mining value addition, energy and transport infrastructure, Mr Oppong Nkrumah said it appears to repackage Feed Ghana, 24-Hour Economy and the Women’s Development Bank.

He also challenged claims on economic stability, recalling the NDC’s 2024 campaign promise to renegotiate the IMF programme, which was later dropped.

He defended the NPP administration’s role, citing the IMF programme secured in May 2023, debt restructuring and Eurobond exchange, with inflation falling from 54.1 percent at end of 2022 to 23.8 percent and 5.7 percent growth in 2024.

He questioned government’s proposal to reduce the primary balance floor from 1.5 percent of GDP to 0.5 percent from 2027, noting GH¢58 billion in restructured domestic bonds due in 2027 and GH¢53 billion in 2028.

Mr Oppong Nkrumah urged Parliament to demand a verifiable register of jobs under 24-Hour Economy checkable against payroll and SSNIT, a lending date for the Women’s Development Bank, employment data for One Million Coders graduates, and an independent audit of Nkoko Nkitinkiti.

He also called for a costed plan for 2027 and 2028 debt maturities and evidence of IMF-identified reforms before any weakening of the fiscal anchor.

“The promises made in 2024 have not expired, and the government should be held to every one of them,” he said.

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