Ghana's main opposition New Patriotic Party (NPP) announced late Saturday that it has won the presidential election with 51.03 percent of votes.

Kwadwo Owusu-Afriyie, General Secretary of NPP, said at a press briefing that NPP presidential candidate Nana Addo Dankwa Akfuo- Addo has got 51.03 percent against incumbent President John Dramani Mahama's 45.50 percent of the votes based on their own collated results.

According to Ghana News Agency, Asiedu Nketsia, General Secretary of the ruling National Democratic Congress (NDC), said there were various indications from the constituencies already collated that the NDC was winning.

Nketsia said the party has already won 150 parliamentary seats thus far, out of the 275 seats in parliament and more are yet to be confirmed.

A tight race is showed between the two main presidential candidates - incumbent President Mahama and main opposition leader Akufo-Addo from the New Patriotic Party (NPP).

According to Joy fm, a private local media, Mahama of the ruling NDC has so far garnered 49.83 percent of votes, while Akufo- Addo gained 48.68 percent of the total votes based on the voting results from 168 out of a total of 275 constituencies.

Mahama intends to spend Ghana's new found wealth on large investments in infrastructure, while his closest challenger, Akufo- Addo, is advocating free senior high school education.

A second round is possible within 21 days if no candidate wins an outright majority-of 50 percent plus one vote according to the country's 1992 constitution.