President John Dramani Mahama conceded defeat yesterday through a phone call to President-elect Nana Addo Dankwa Akufo-Addo congratulating him on his December 7 polls victory.

President Mahama who lost the elections amid allegations of corruption, mismanagement of the economy, over bloated projects and sole sourcing graciously conceded defeat to his arch rival Nana Addo Dankwa Akufo-Addo.

In a very emotional concession speech made at his Cantonment residence, John Mahama, admitted that though this is not the results they (NDC) expected, they respect it because it is the will of the people.

He further stated that,"victory belongs to the people. And the true winner is always Ghana.It is precisely on belief in Ghana and its future that notwithstanding the irregularities associated with this election, I have decided at this stage to congratulate the President-elect".

Watch the full video below;