‘AGOA is not forever; we must wean ourselves off it and build our own’ - Patrick Boamah

A former Chairman of Parliament’s Finance Committee says Ghana must rethink its reliance on the Africa Growth and Opportunity Act (AGOA).

Patrick Yaw Boamah warned that AGOA is beneficial but not a permanent solution.

The Okaikwei Central MP spoke on Joy News’ PM Express Business Edition on May 1. He noted that AGOA has helped sectors like garments and textiles. However, he believes Ghana should focus more on local development.

“There are companies set up to benefit from AGOA,” he said. “If we don’t push for an extension, it will lead to job losses and revenue shortfalls.”

Mr. Yaw Boamah expressed concern about long-term dependence on AGOA.

“We cannot sit and be spoon-fed for a long time,” he stressed. “We need to wean ourselves from these policies.”

“AGOA has been in place for nearly 20 years,” he continued. “What have we done to expand our export potential?”

He added that while Ghana should lobby for an extension, it shouldn’t expect endless support.

“An extension of AGOA is good, but it shouldn’t last forever,” he said. “We must build local industries.”

Mr. Yaw Boamah supports industrial policies that strengthen local production.

“I believe in the One District, One Factory program,” he stated, despite some challenges with it. “If we don’t build local capacity, job creation will remain an illusion.”

He mentioned pharmaceutical companies like Tobinco and Ernest Chemist as needing more government support.

“They should produce locally to reduce drug imports,” he emphasized. “We must focus on textiles, pharmaceuticals, import substitution, and agro-based industries.”

Boamah also raised concerns about budgetary support for these sectors.

“I’m glad the government talks about agribusiness,” he said. “But the budgets for Trade and Agriculture are insufficient.”

“To access big markets with targeted crops, significant investment is needed,” he added.

His message was clear: AGOA opened doors for Ghana but won’t stay open forever. Now is the time to build a strong foundation at home.