Mahama has taken some just right steps, however falls brief on key 2024 guarantees – Amin Adam – Life Pulse Daily
Editor-in-chiefJanuary 7, 20263 Mins read39
Mahama has taken some just right steps, however falls brief on key 2024 guarantees – Amin Adam – Life Pulse Daily
Introduction
As Ghana reflects on President John Mahama’s first year in office, former Finance Minister Dr Mohammed Amin Adam offers a balanced yet critical assessment. While acknowledging “some good steps” taken by the administration, Dr Amin Adam highlights a significant gap between campaign promises and tangible results, particularly regarding job creation. This in-depth analysis examines the praise, the shortfalls, and the implications for Ghana’s economic future, providing readers with clear, actionable insights.
Key Points
- Positive Steps Recognized: The Mahama administration has implemented initiatives worthy of commendation.
- Core Promise Unfulfilled: The central 2024 campaign pledge—job creation via a 24-hour economy—remains largely unrealized.
- Budgetary Gaps: The 2026 budget lacks explicit allocations to achieve the 24-hour economic model.
- Economic Factors: Fuel price reductions and inflation improvements stem more from market dynamics than policy alone.
- Early Days: Dr Amin Adam notes it’s still early, urging patience for the next two to three years.
- Political Appeal: He calls on NPP delegates to support Dr Mahamudu Bawumia for the 2028 election.
Background
Context of the 2024 Election and Campaign Promises
The 2024 Ghanaian general election centered on economic revival, with the National Democratic Congress (NDC) promising a transformative 24-hour economy to combat high unemployment. The “one-three-three” policy—creating one job filled by three people across three shifts—was the cornerstone of their platform, distinct from initiatives like GoldBod or currency stabilization measures.
Dr Mohammed Amin Adam’s Role and Credibility
Dr Amin Adam served as Ghana’s Minister of Finance, bringing firsthand experience in fiscal policy and economic planning. His insights carry weight due to his direct involvement in previous government strategies, including incentives for the Sentuo oil refinery, which now supplies about 30% of the nation’s petroleum products.
Analysis
Evaluation of Progress vs. Promises
Dr Amin Adam’s critique focuses on the disparity between campaign rhetoric and policy implementation. He argues that while the government has taken commendable actions—such as VAT rationalization and fuel price adjustments—these are insufficient to drive the structural change needed for job creation. The absence of dedicated budget lines for the 24-hour economy in the 2026 fiscal plan underscores this concern.
Economic Factors Behind Recent Improvements
The former minister attributes recent positive economic indicators to market forces rather than government policy. He explains that the cedi’s impact is already internalized, and fuel price drops stem from oversupply, including contributions from the Sentuo refinery. This analysis suggests that relying on such factors for sustained growth is risky without complementary job-focused strategies.
Implications for Future Economic Policy
Dr Amin Adam’s observations imply that the Mahama administration must pivot toward more targeted interventions to fulfill its core promise. This includes explicit budgeting for industrial zones, infrastructure to support round-the-clock operations, and incentives for private sector job creation. Without such measures, public confidence may wane despite short-term economic stabilizations.
Practical Advice
For Policymakers
- Integrate Job Creation into Budgets: Allocate specific funds for the 24-hour economy in upcoming fiscal plans.
- Strengthen Public-Private Partnerships: Collaborate with industries to establish shift-based employment models.
- Monitor Market Dynamics: Avoid over-reliance on external factors like oil supply; develop resilient domestic strategies.
- Enhance Transparency: Regularly report progress on job creation metrics to maintain public trust.
For Citizens and Stakeholders
- Stay Informed: Track government budgets and policy announcements for job-related initiatives.
- Engage Constructively: Participate in public forums to hold leaders accountable on employment promises.
- Support Local Industries: Advocate for policies that boost domestic production and employment.
FAQ
What did Dr Amin Adam praise about Mahama’s first year?
Dr Amin Adam acknowledged that President Mahama has taken “some good steps,” including measures like VAT rationalization and efforts to stabilize the economy, which deserve recognition.
Why does he believe the government hasn’t met its key promises?
He argues that the central promise of job creation through a 24-hour economy remains unfulfilled, with no significant budgetary allocation or visible implementation in the 2026 budget.
What factors explain recent fuel price drops, according to Dr Amin Adam?
He attributes lower fuel prices primarily to market oversupply, including increased local production from the Sentuo refinery, rather than currency stabilization alone.
Does Dr Amin Adam see hope for future progress?
Yes, he notes that it’s still early in Mahama’s term and expects more tangible results in the next two to three years if the right policies are adopted.
What political message did he convey?
Dr Amin Adam appealed to New Patriotic Party (NPP) delegates to vote for Dr Mahamudu Bawumia, suggesting he is the best candidate to lead the party to victory in 2028.
Conclusion
Dr Mohammed Amin Adam’s assessment of President John Mahama’s first year offers a nuanced perspective: commendation for initial efforts, but a clear call to action on job creation. While economic stabilizations provide a foundation, they are not substitutes for the transformative employment agenda that won the 2024 election. For Ghana to achieve sustainable growth, the government must translate promises into concrete, budget-backed strategies. Stakeholders should remain engaged, informed, and vocal to ensure accountability and progress.
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