Dr. Eric Boachie Yiadom, a Senior Lecturer and Financial Economist at the University of Professional Studies, Accra (UPSA), has raised critical questions about whether Ghana is financially prepared to sustain a nationwide 24-hour economy.
Speaking in an interview on the economic feasibility of the policy, Dr. Boachie Yiadom said while the idea of a 24-hour economy has the potential to stimulate growth, job creation and productivity, its success would depend heavily on how it is financed and implemented.
He questioned whether the proposed GH¢110 million seed funding would be sufficient to support what is expected to be a large-scale national programme.
“A 24-hour economy is not just about encouraging businesses to operate at night. It involves significant investment in energy, security, transport, infrastructure and financing support for businesses. When you consider these factors, the cost could be far higher than what is currently being discussed,” he explained.
According to him, implementing the policy nationwide would require substantial public spending, particularly in sectors such as power supply and logistics, which are already under pressure.
He noted that one of the biggest economic questions is the total cost of implementation and whether government has the fiscal space to sustain it over the long term.
“If the full cost is not clearly calculated from the beginning, it could put additional strain on the national budget and eventually increase the fiscal deficit. That is something Ghana must avoid at a time when the country is trying to stabilise its economy,” he said.
Dr. Boachie Yiadom stressed that without a clear financing model, the policy could become financially unsustainable, especially if it relies too heavily on government funding.
He suggested that the private sector should play a leading role in financing and driving the 24-hour economy, rather than relying largely on public funds.
“The private sector must see the economic value in operating 24 hours. Government should focus more on creating the right environment, such as stable power, improved security and incentives, instead of bearing the full financial burden,” he added.
He also pointed out that the success of a 24-hour economy would depend largely on whether businesses are ready to operate around the clock and whether there is sufficient demand to justify night-time production and services.
“If businesses do not see strong demand at night, they will not operate 24 hours, even if government provides funding. So the policy must be driven by market demand, not only by political ambition,” he said.
The financial economist further emphasised the need for a detailed cost-benefit analysis before the policy is rolled out nationwide.
He explained that such an analysis would help government determine whether the economic benefits would outweigh the cost of implementation.
He added that the policy should first be piloted in key sectors such as manufacturing, logistics, transport and agro-processing before expanding to other areas of the economy.
“A phased approach would help reduce financial risk. If government starts with strategic sectors that already have demand and production capacity, it will be easier to measure the economic impact before scaling up,” he noted.
Dr. Boachie Yiadom said while the concept of a 24-hour economy could improve productivity and help reduce unemployment, the country must prioritise financial sustainability to avoid creating additional economic pressure.
He urged policymakers to ensure that the policy is backed by a strong financing framework that balances public support with private-sector investment.
“If it is properly financed and strategically implemented, the 24-hour economy could transform productivity in Ghana. But if the financing structure is weak, it could become another policy that places pressure on the national budget,” he added.
