Mr Boateng, who is a youth leader at the Oyarifa branch of the party, said he took the decision together with his team which included his lawyers.
The father of seven made this known in an interview with TV3’s Godfred Tanam on Thursday, September 10.
Mr Baoteng’s attempt to contest the sitting president had stirred controversy after the party’s General Secretary, Johnson Asiedu Nketia, rubbished the forms he picked on Monday, August 31 and, later, dismissed the officers who issued the forms out to the freight forwarder.
Mr Nketia later described Mr Boateng as mentally deranged, forcing “the grassroot man” to go for voluntary mental check-up at Pantang Psychiatric Hospital.
An attempt to pick new forms last Tuesday proved futile but he disclosed to our reporter that he received his nomination forms at 1:00am on September 10, when nominations were scheduled to close.
He said though he had party executives to endorse his forms, he could not do so in the northern regions as members he counted on were not available.
“So, I have stepped down now to throw my weight behind the president and I wish him well for 2016.”
He said he would stay back for now and would only take a front role in the run-up to the 2016 elections if the president “will amend those issues that I raised”.