President John Dramani Mahama is set to deliver his second message on the State of the Nation, under his second term, at a time when Ghana’s economy is seeing some recovery.
This comes amid high expectations for decisive reforms that translate policies and programmes into employment and sustainable development.
The address, scheduled for Friday, February 27, 2026, comes against the backdrop of sobering economic assessments and policy commitments outlined in recent government and institutional reports.
Article 67 of the 1992 Constitution provides that the President delivers a message on the State of the Nation to Parliament at the start of each session and before the dissolution of Parliament.
In his February 2025 SONA, President Mahama declared that: “The state of our nation is not good. Our economy is in crisis, and our people are suffering unprecedented hardships.”
That frank admission set the tone for a year of fiscal consolidation, debt restructuring, and sectoral reforms, which has resulted in some improvements in the economy on the back of various policy implementation.
For instance, by the end of 2024, inflation stood at 23.8 per cent, well above the IMF’s 18 percent target, while the cedi depreciated by 27.8 per cent against the US dollar. Public debt also climbed to GHS 721 billion.
By 2025, the situation remained fragile but showed early signs of stabilisation – the Cedi depreciated by another 19 per cent, and debt servicing obligations were projected at GHS 280 billion over four years.
Inflationary pressures also started to cool, reaching 5.4 per cent in December 2025, marking the 12th consecutive month of slowing inflation and the lowest level since the Consumer Price Index (CPI) was rebased in 2021.
Inflation has currently dropped to 3.8 per cent, lowest in five years.
Nonetheless, sectoral challenges remain acute – the energy sector is weighed down by debts exceeding GHS 70 billion, with recent intermittent power supply in parts of the country amidst increased utility tariffs.
The cocoa industry also faces revenue losses from rolled-over contracts, costing farmers nearly US$ 1.3 billion in 2025 alone.
Additionally, the government has announced a new farmgate price of GHS41,392 per tonne – equivalent to GHS2,587 per 64-kilogramme bag, down from GHS3,625 in October 2025, a reduction of roughly 28.6 per cent.
The authorities had acknowledged the scale of the problem of illegal mining (galamsey) and rolled out new measures to address it.
These include the revocation of the legal instrument that allowed mining in forest reserves, crackdowns, and a permit regime for excavator imports, which remained a topical issue.
According to the Forestry Commission, illegal mining in forest reserves expanded to 8,923.8 hectares by the end of 2024, up from 5,252.9 hectares in 2021, posing environmental and economic challenges to the country.
Economic watchers, while lauding the government for the positive developments in the economy, have called for sustainable measures, urging it to also ensure that various policies and programmes yield greater outcomes on the lives of Ghanaians.
For example, the IMANI Centre for Policy and Education noted that: “While significant efforts have been invested to stabilise exchange rate volatility and reduce inflation to drive down prices of goods and services, a number of the initiatives across various sectors remain in their launch phases.”
Against this backdrop, President Mahama’s upcoming address is expected to highlight progress made under the Resetting Ghana Agenda, and the myriad of promises in the governing National Democratic Congress’ 2024 manifesto blueprint.
Key pillars include the 24-Hour Economy Policy, the US$10 billion “Big Push” infrastructure initiative, and agricultural transformation programmes such as Feed Ghana and Nkoko Nkitinkiti, aimed at reducing food imports and boosting local production.
Other critical sectors of importance are agriculture, agribusiness, and trade, education and health, governance and anti-corruption, affirmative action, equity, and climate action.
Observers anticipate that the President would use Friday’s address to reassure Ghanaians of his administration’s commitment to sustaining the stabilisation of the economy, creating jobs, and restoring confidence in governance.
With inflation easing, debt restructuring underway, and reforms in energy, agriculture, and youth employment being rolled out, President Mahama’s SONA would serve as both a stock-taking exercise and a roadmap for Ghana’s economic recovery and resilience.
GNA
