Passage of 24-Hour-Economy Authority Bill fulfillment of NDC’s promise - Majority Caucus

The National Democratic Congress (NDC) Majority Caucus in Parliament has hailed the passage of the 24-Hour Economy Authority Bill as a major step towards job creation and economic revitalisation.

Addressing the Parliamentary Press Corps in Accra shortly after the bill's approval, Mr Mahama Ayariga, Majority Leader, said the government had injected billions of Ghana cedis into state-owned banks such as the Agricultural Development Bank (ADB) and the National Investment Bank (NIB) to strengthen the financial sector.

He explained that these institutions were expected to channel capital into private sector enterprises to stimulate industrial growth and sustain the 24-hour economy initiative.

On Friday, January 6, 2026, Parliament passed the 24-Hour Economy Authority Bill, giving legal and regulatory backing to the government's flagship programme aimed at transforming Ghana into a round-the-clock economy.

The legislation establishes a 24-Hour Economy Authority to serve as a coordinating Secretariat, liaising with Ministries, Departments and Agencies to drive economic transformation through enhanced production systems and supply chain management.

The Authority will oversee the implementation of the 24-Hour Economy model, designed to keep industries operating continuously in multiple shifts—day and night—thereby creating jobs and livelihoods for millions of Ghanaians, particularly unemployed youth, and graduates.

Officials say the new framework will stabilise the economy, attract investment, and position Ghana for sustained productivity.

The passage of the bill comes against the backdrop of high unemployment, which government attributes to past financial crises, inflation, volatile currency conditions, and the collapse of financial institutions during the financial sector cleanup. Many factories have previously relocated abroad due to instability and heavy taxation, leaving thousands of people jobless.

The legislation was passed with minimal amendments, reflecting broad parliamentary support.

The NDC Majority Caucus described the development as a fulfillment of the party's electoral promise and a significant milestone in the government's economic reform agenda.

GNA