President John Dramani Mahama has declared that Ghana’s economy is stabilising and recovering after the severe economic challenges inherited from the previous administration.

Delivering his second State of the Nation Address since winning the 2024 elections, the President stated that:

“Ghana is working again, and Ghana is open for business.”

According to President Mahama, key sectors of the economy are beginning to function more effectively, with improved coordination for national development.

He reported that inflation has reduced, exchange rate pressures have eased, fuel prices have declined, and the general business environment has improved. Government policies, including the reduction of import duties and removal of some levies and taxes, have helped revive import and export activities.

While business groups acknowledge improvements in macroeconomic indicators, the opposition maintains that ordinary citizens are yet to feel significant relief in their daily lives.

Parliamentary Protests and Political Symbolism

The address was marked by political symbolism in Parliament. Opposition NPP MPs dressed in black and carried cocoa pods to protest the reduction in cocoa prices, while government MPs dressed in white and waved Ghana flags in support of the President.

Cocoa Sector Reforms

The government recently reduced the cocoa producer price from GH¢3,600 to GH¢2,600 per 64kg bag, triggering strong reactions from farmers.

President Mahama described the decision as “painful but necessary”, explaining that falling global cocoa prices and liquidity challenges made the reform unavoidable.

He warned that maintaining the previous price structure would have forced the state to inject borrowed funds into the sector, risking a return to economic instability. He assured farmers that the reforms aim to stabilise the cocoa sector and ensure sustainable, fair pricing in the long term.

Energy Sector Stabilisation

President Mahama revealed that the energy sector was burdened with debts of about GH¢80 billion, arising from non-payment of gas supplies, technical losses, and inefficiencies.

He stated that government interventions have improved stability, revenue collection, and power supply reliability. The Tema Oil Refinery has resumed operations after years of shutdown, and 12,000 new smart meters will be deployed nationwide from the end of the first quarter.

Investigations are also underway into public complaints about fast-draining electricity meters, with replacements promised where faults are confirmed.

Job Creation and 24-Hour Economy

The President reported that:

  • Over 1 million jobs were created between the first and third quarters of 2025

  • 950,000 people exited multidimensional poverty in 2025

  • The 24-hour economy policy has been approved by Parliament and will soon be implemented to boost employment, productivity, and industrial output

Healthcare and Emergency Services

President Mahama addressed recent public outrage over hospital refusals of emergency patients, declaring that:

No hospital in Ghana is permitted to reject emergency cases.

Government is expanding major health facilities, including Ridge Hospital, Police Hospital, La General Hospital, Afari Hospital, Sewua Hospital, and the Komfo Anokye maternity block.

Additionally, 13,500 nurses and midwives have been absorbed onto the government payroll, alongside hundreds of doctors and pharmacists, with further recruitment planned.

Infrastructure Development

Under the Big Push Infrastructure Programme:

  • 50 new road projects covering 1,140km have started, costing over GH¢50 billion

  • 23 inherited projects covering 573km are being completed, costing GH¢15 billion

  • A total of 73 road projects are ongoing nationwide

Fight Against Illegal Mining (Galamsey)

The President reaffirmed government’s commitment to tackling illegal mining:

  • Over 114 court cases currently active

  • Special prosecution teams deployed

  • Equipment seizures ongoing

  • Security operations continuing across affected communities

Anti-Corruption Drive

President Mahama pledged strong accountability measures:

  • EOCO has investigated 462 cases

  • GH¢600 million recovered

  • 29 stolen luxury vehicles seized

  • Prosecution and asset recovery processes ongoing

He stressed that justice will be pursued lawfully, thoroughly, and without political interference.