Mahama touts economic recovery, announces $10bn investment plan

President John Dramani Mahama has described Ghana’s economic recovery under his administration as remarkable, attributing the progress to fiscal discipline, expenditure controls and improved management of public resources.

Speaking during the second day of his ‘Accounting to the People’ tour in Bolgatanga, the President said government’s efforts to eliminate waste and unnecessary spending had helped stabilise the economy about a year and a half after the National Democratic Congress (NDC) returned to power.

The engagement brought together traditional authorities, religious leaders, civil society organisations, media practitioners and educationists, among other stakeholders.

President Mahama said the government had largely relied on internally generated funds to finance its programmes, noting that no loan agreement was presented to Parliament throughout 2025.

“Cutting down waste and related unnecessary expenditure has helped in this recovery. The whole of last year (2025), we did not send any loan agreement to Parliament. Not even one loan agreement,” he said.

He added that the first loan agreements submitted to Parliament in 2026 were a $300 million World Bank STARR-J project, aimed at ending the double-track education system, and a $500 million Feeder Roads project.

According to the President, the government’s focus now is to consolidate the gains made, create jobs and expand economic opportunities, particularly for the youth.

$10bn investment in priority sectors

President Mahama disclosed that Finance Minister Dr Cassiel Ato Forson would present a new economic policy, dubbed “The New Economy,” to Parliament.

The policy is expected to direct investments into seven priority sectors, with government planning to commit $2.5 billion annually over the next four years, bringing the total investment to $10 billion.

Agriculture and agro-processing are expected to receive the largest share, accounting for $5 billion, or half of the planned investment.

President Mahama said the Upper East Region would benefit significantly from the agricultural investment, particularly through the expansion of irrigation infrastructure to support year-round farming.

“So $5 billion is going to go into agriculture and agro-processing, and I can assure you the Upper East Region is going to get its fair share of that $5 billion,” he said.

Upper East targeted for agricultural expansion

The President said his administration intended to transform the Upper East Region into a major agricultural hub.

He announced plans to accelerate the Tomato Revitalisation Project to increase local tomato production and improve the supply of quality tomatoes to the domestic market.

Government is also expected to intensify work on the Tamne Irrigation Dam in Tempane to support dry-season farming in five districts and a municipality in the eastern part of the region.

The project is also expected to boost onion production and help reduce Ghana’s dependence on onion imports from Niger.

President Mahama said investments would also be made in road, health and education infrastructure to support broader development across the region.

Tongo-Sheaga-Pelungu road project

As part of the tour, Roads and Highways Minister Kwame Governs Agbodza, representing the President, cut the sod for the construction of the Tongo-Sheaga-Pelungu road in the Talensi District under the government’s Big Push initiative.

Mr Agbodza urged residents to remain patient as preparatory activities get underway, assuring them that the completed road would ease transportation challenges and improve mobility in the area.

Meanwhile, Upper East Regional Minister Donatus Atanga Akamugri said more than 253 physical development projects had been implemented across the region during the period under review.

He attributed the progress to what he described as the government’s effective management of the economy and continued investment in development projects.

Prince Antwi

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