President Mahama Calls for Economic Reset, Self-Reliance at 68th Independence Day Celebration
President John Mahama, delivering the 68th Independence Day Anniversary address on the theme “Reflect, Review, and Reset,” emphasized the need for Ghana to break free from economic dependence and chart a path toward self-reliance and sustainable growth.
Reflecting on Ghana’s economic journey, the President recalled the optimism that accompanied the country’s offshore oil and gas discovery 18 years ago during its Golden Jubilee. However, he noted that while such moments held promise, the nation has faced persistent challenges that require urgent reassessment and corrective action.
“We must assess our economic outlook, education and human resource development, natural resource management, national security, and governance. It is essential for us to conduct a thorough review of our healthcare system, agriculture and food security, infrastructure and urban development, as well as the role of science, technology, and innovation,” he stated.
The President criticized the cycle of dependence on foreign aid and bailouts, arguing that self-reliance cannot be achieved through rhetoric alone.
“Proclaiming self-reliance while marching straight back into the hands of donor agencies for help is the real difference. To break this cycle and reset our economy, my administration is formulating policies based on fiscal discipline, living within our means, and expanding the economy to yield prosperity for all,” he emphasized.
As part of his administration’s efforts to drive economic transformation, President Mahama announced the implementation of the 24-hour economy programme aimed at increasing productivity, job creation, and export capacity while reducing Ghana’s reliance on foreign assistance.
Additionally, he highlighted the $10 billion Big Push Initiative, which is designed to modernize infrastructure, create jobs, and stimulate local industry, ensuring that development is driven from within.
On the agriculture front, the President underscored its potential to reduce import dependence, revealing that Ghana spends over $2 billion annually on food imports. He reaffirmed his administration’s commitment to the Agriculture for Economic Transformation Agenda, which seeks to strengthen agribusiness and enhance food security.
“We must look within and ensure that we are raising revenue domestically. Ghana’s economic reset will be built on resilience, self-sufficiency, and the strategic use of our resources to secure a prosperous future,” President Mahama stated.
