By: Ashiadey Dotse
Financial Economist and Policy Analyst Dr. Peter Terkper has stressed the need for government to place greater attention on strengthening the private sector, arguing that more than 80 percent of Ghana’s national revenue comes from taxes. He said this makes the private sector the most important player in sustaining the country’s economic growth.
Speaking in an interview on GTV’s Breakfast Show on Tuesday, November 25, 2025, Dr. Terkper explained that since tax revenue contributes the largest share of government income, it is the private sector — made up of importers, exporters, and producers — that ultimately keeps the system running. According to him, any government that ignores the private sector risks weakening the very foundation of its revenue generation.
He noted that policies such as the 24-hour economy at the ports will rely heavily on private businesses. “If the private sector is not thriving, government will only end up employing people to sit at the port for 24 hours without any real work to do, yet still pay them,” he cautioned.
Dr. Terkper also criticized government’s approach to certain agricultural initiatives, saying many projects are rolled out without proper market planning. He pointed to recent challenges where the Ministry of Agriculture is struggling to find buyers for surplus grains, and egg producers are complaining about low demand.
He questioned the sustainability of programmes like the poultry and chicken cooking projects if clear off-takers or export markets are not secured. “Government cannot buy everything we produce. We do not even have enough warehouse systems to store it all,” he said.
Using Singapore as an example, Dr. Terkper argued that economic growth does not come from producing more than a country can consume, but from establishing strong export markets and meeting international standards. He stressed the need for Ghana to ensure proper certification, infrastructure, and agreements with other countries before launching mass production initiatives.
Dr. Terkper added that meaningful reforms must aim to boost domestic revenue, promote private sector growth, and position government to distribute economic value efficiently.
