He made the announcement at the handing over ceremony of the Cape Coast Polytechnic branch of Tertiary Educational Institutions Network of the ruling National Democratic Congress on Saturday.
The two- term MP, however, did not state reasons for his decision but pledged to put his weight behind the party to retain the seat in 2016.
About five persons, according to sources within the party, have already expressed interest to contest for the slot when nominations for the party’s primaries are opened, later this year.
Among them are Mr Anthony Egyir Aikins, former Cape Coast Metropolitan Chief Executive, Mr Charles Kojo Walker a businessman, whose posters and campaign materials have already emerged in the constituency.
Mr Justice Kofi Boison who contested but lost the last primaries is likely to make another attempt while speculations are rife that Mr Kobby Acheampong, Head of the Ghana Investment Fund for Electronic Communications, is also eyeing the slot.
Whoever wins the primaries would be locking horns with Mrs Barbra Asher Ayisi, the New Patriotic Party candidate for the constituency, who would be contesting the seat for the first time.