President John Dramani Mahama, in his inaugural State of the Nation Address (SoNA) to the 9th Parliament, painted a stark picture of Ghana’s economic challenges but assured citizens of a strategic roadmap for recovery.
Delivering his address in Parliament on Thursday, Mahama acknowledged that the country’s economy is in crisis, stressing that “the state of our nation is not good.”
However, he reaffirmed his administration’s commitment to stabilizing the economy, restructuring key sectors, and ensuring that “every dime” owed to bondholders is paid.
Economic Realities and Recovery Measures
Mahama revealed that Ghana’s debt servicing will reach GHS 289 billion over the next four years, while the Sinking Fund holds a meagre $64,000 and GHS 1.43 million.
He criticized the financial mismanagement of the previous administration, particularly in the energy and agriculture sectors, and pledged to reset the country’s economic direction.
“We inherited an economy in deep crisis, but I am determined to fix these challenges before I leave office,” Mahama assured.
As part of his economic revitalization strategy, the government will introduce the 24-hour economy policy, aiming to boost productivity and job creation.
Energy Sector Woes and Renewable Solutions
The President disclosed that Ghana’s energy sector is burdened with GHS 70 billion in debt, leading to severe financial strain.
To address this, his government will operationalize the Renewable Green Transition Fund and revitalize the upstream petroleum sector.
“Let us remain resolute in restoring stability to our energy sector,” Mahama urged.
Agriculture
Mr. Mahama’s administration is set to launch several initiatives to enhance agricultural output and reduce import dependency. Key among them is the “Nkoko Nkitinkiti” project, which aims to support 55,000 households in producing eggs and fresh chicken meat.
In addition, efforts will be made to expand greenhouse agriculture, cut down poultry imports, and increase premix fuel supply for fishermen.
Employment and Youth Development
With over two million unemployed youth, President John Mahama emphasized the urgency of addressing Ghana’s job crisis. His government will introduce several employment initiatives, including:
Adwuma Wura Program – A fund to support young entrepreneurs.
Short Military Training for National Service Personnel – A new policy aimed at instilling discipline and skills development.
Electric Motorcycle Hire-Purchase Scheme – To provide affordable mobility options for workers.
Training for 10,000 Informal Sector Workers – To enhance skills and employability.
Strengthening Free SHS and Expanding STEM [Education]
President Mahama reaffirmed that he will not cancel the Free SHS program but will introduce reforms to enhance its effectiveness. He also announced:
A 20% allowance for teachers in rural schools.
A new initiative, Teacher Dabre, to provide housing for teachers.
The expansion of STEM and TVET programs in every region.
Free tertiary education for Persons with Disabilities (PWDs).
“I am committed to making Free SHS better, and no new school will be built without teachers’ accommodation,” Mahama stated.
Health
President Mahama criticized the lack of funding for the Agenda 111 hospital project, revealing that not a single hospital is operational. His administration is open to Public-Private Partnerships (PPPs) to complete these projects.
Additionally, Ghana is set to become West Africa’s pharmaceutical hub, and plans are in place to implement free primary healthcare.
Gender, Sports, and Tourism Initiatives
In a move to empower women, Mahama announced the establishment of a Women’s Development Bank to provide financial support for female entrepreneurs. Women now constitute 23.2% of his government, a step toward greater gender inclusivity.
On sports, Mahama emphasized accountability for the Black Stars, vowing transparency in government spending on national teams.
For tourism, the government plans to revamp the Osu Castle and improve the Black Star experience, as well as boost Ghana’s film industry through competitive events like the Concert Party Competition.
Roads and Infrastructure Development
Mahama acknowledged the urban road network has expanded but blamed mismanagement for the poor state of road infrastructure. To address this, he announced:
Reintroduction of road tolls using technology.
Uncapping of the Road Fund to secure additional financing.
Regulation of motorcycles and tricycles for commercial use.
Despite the economic hardships, Mahama expressed optimism about the future, stating that the sacrifices made today will yield economic stability and growth.
“I am confident that together, we shall build the Ghana we want,” he concluded.
