In a statement issued to newsmen, Ashafa said the decision was based on the need for unity and progress of the party.
He said, “Over the past seven and a half years, I have enjoyed the mandate and support of both the leadership and the members of our party to serve as the Senator representing Lagos East Senatorial District. This is a mandate that I have held with the utmost responsibility which such high office entails.
“In the light of the foregoing, and upon due consultation with party leaders and relevant stakeholders, I believe that the time has come for me to sacrifice my ambition for the unity and continuity of our party at the senatorial level and across all elective offices.
“Hence, I hereby, release my unopposed ticket to the leadership of the party in Lagos State.
“To this end, I would like to appreciate the leadership of our party at the State and National levels, our members and constituents alike for the opportunity afforded me to serve.
“This is an opportunity that I do not take lightly or for granted. I would also like to appreciate the magnanimity and generosity of Asiwaju Bola Ahmed Tinubu towards me throughout this journey.
“I remain committed to the principles and ideals of our party and will continue to contribute my quota in service to both our party and the Nation. I stand with APC.”