According to Mr Mahama who lost the 2016 Presidential elections to Akufo-Addo, the government is engaged in historic levels of borrowing but has nothing to show for it.

He said although his administration was chastised for borrowing, they used the said funds for developmental projects.

Speaking in a radio interview on Accra based Radio Gold on Friday, Mr Mahama said his government used loans to construct schools buildings, hospitals, airport terminals, roads and lots of social infrastructures.

He said Ghanaians are disappointed with Akufo-Addo because his promises have not been achieved.

"I have something to offer. Ghanaians have seen what I can offer. The change of 2016 has not brought about any positive outcomes. The plans we laid out were very clear, and if followed would have moved us forward faster. Today, Ghanaians are the judges," Mr Mahama stated.

Mr Mahama is among seven aspirants seeking the nod to be the flagbearer of the National Democratic Congress (NDC) in the 2020 Elections.

Other aspirants are the Second Deputy Speaker of Parliament, Mr Alban Kingsford Sumana Bagbin; former Vice Chancellor of University of Professional Studies, Accra (UPSA), Prof. Joshua Alabi; former Chief Executive Officer (CEO) of the National Health Insurance Authority (NHIA), Mr Sylvester Mensah.

The rest are former Minister of Trade and Industry, Mr Ekwow Spio-Garbrah; businessman, Alhaji Nurideen Iddrisu, and a cadre, Mr Goosie Tanoh.

The poll will take place on Saturday, February 23, in all the party’s constituencies nationwide and will be conducted by the Electoral Commission.