He said the unprecedented corruption under President Mahama took Ghana back several years.
Professor Adei said Mahama eroded all the economic gains made by President Agyekum Kuffour from 2001 to 2008.
“Between 2008 and 2011, there was renewed hope. In 2007 the oil was discovered and there has been some systematic progress, some foundations were being laid", he said.
“By 2011, the economy was growing by 14 percent per annum and everybody thought that a new dawn of Ghana had come."
Speaking on Accra based Class FM, Prof. Adei added that: "hope was totally shuttered and by the time His Excellency President John Mahama was leaving office we were back almost into the ditch or into the doldrums."
“There was so much corruption, there was so much inflation, there was so much debt, the growth has tumbled to less than four percent and every indicator was down."
“I think that it has been one of the pains for those of us who have watched out development. I thought that by 2011, for once, we were not going back but we went back so badly", he added.