Ghana’s new president, John Mahama, has said his government will investigate a controversial $400m (£330m) plan to build a national cathedral.

Pressure is growing on authorities to abandon the project, which has divided opinion in a country going through an economic crisis.

Former President Nana Akufo-Addo, whose party was voted out of office in December’s election, attributed his party’s success in 2016 to God and pledged to build the cathedral .

The Akufo-Addo government has said the cathedral will be privately funded, but the project has so far cost $58 million in taxpayer money.

The money has little to show for it except a giant crater on a valuable piece of land in the center of Accra that was previously occupied by state buildings, judges’ homes and financial companies.

Ghana is a country with deep religious beliefs, and 70% of the people are Christians.

The National Cathedral of Ghana was envisioned as a sacred space for all Christians where national religious ceremonies could be held. It also plans to house a Bible museum and a national conference center.

Speaking at a thanksgiving ceremony on Sunday, Mahama said: “The Commission on Human Rights and Administrative Justice (CHRAJ) directed the government to audit the project and investigate any misuse of public funds. We will soon launch an investigation into the project.”

However, he did not rule out the possibility of completing the cathedral.

“We can agree on a more reasonable figure for realizing a project like this, and together we can finance it,” he said.

“Such reconsideration of the project may even include changing the current site chosen for the project. The project must be realized at a reasonable cost, in the circumstances Ghana is currently experiencing, at a whopping $400 million.”

On Monday, new finance minister Cassirer Ato Forson said public funds would no longer be used for the project, telling a parliamentary committee that the government “will work hard to cut wasteful spending, of which the National Cathedral project is one”.

Ghana has suffered its worst economic crisis in a generation and last year received a $3bn (£2.5bn) bailout from the International Monetary Fund (IMF).

The rate of commodity price increases, or inflation, has improved significantly since the bailout but remains high at 23.8%.

Work on the cathedral has stalled after contractors wrote to the government saying they were unwilling to continue work because they had not received payment.

Before the December election, Mahama had hinted that if he became president, he would launch an investigation into the project and decide whether to continue it.

But while his National Democratic Party is in opposition, his parliamentary caucus urged Akufo-Addo to “terminate the contract” for the project altogether.

NDC MP Kwabena Mintah Akandoh asked: “Where is the wisdom in building a cathedral when the country has more pressing needs in areas such as health and education?

“I don’t think any rational person would expect John Mahama to build a cathedral. People are dying from cholera and other diseases, so why focus on a cathedral?”

The building has also raised concerns among senior clergy involved in the project.

Five members of the cathedral’s board have resigned amid calls for the government to halt the project and conduct an audit.