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ECONOMICS

Bagbin tasks parliament to anchor 24-Hour Economy with new laws

The Speaker of Parliament, Rt. Hon. Alban Bagbin has reminded parliament of having a critical role to play in ensuring the success of the 24 –hour economy which is aimed to transform the economy by stimulating round-the-clock economic activities to enhance productivity thereby creating jobs.

Date Created : 11/20/2025 : Story Author : Ghanandistricts.com

The Speaker stated that the 24 –hour economy cannot thrive on infrastructure alone, stressing that it must be anchored on a renewed and revised legal framework and governance culture.

In view of this, he said parliament carries a lot of burden in promoting and ensuring the success of the policy.

According to Rt. Hon. Speaker, who was speaking at opening of a three-day post-budget workshop for Members of Parliament in Accra on Saturday, November 15, 2025, the executive is not the only pillar to make this achievable; but must also include the legislature, the judiciary, and more importantly the audit service.

Meanwhile, the Speaker has urged the government to use the 2026 Budget and Economic Policy to break the Country’s recurring cycle of economic crises by transforming the country to be production -driven instead of the traditional reliance on export of raw materials - a practice that denied the country from being self-reliance.

“A common refrain echoes across Africa: ‘Africa is not poor, it is poorly managed, and the budget is the clearest expression of that management. At this pivotal moment, our budget must serve as a primary instrument for transforming Ghana’s economic paradigm.”

Thus, the budget, which is the socio-economic blueprint of the republic, translating the hope and ambitions of all citizens into actionable policies and measurable outcomes, must be properly scrutinized taking into account the interest of the people and the progress of the country.

He advised that the Post-Budget Workshop should not be seen just as a workshop but “a strategic assembly that equips us to pass a budget that genuinely serves the progress and prosperity of the Ghanaian people.