Osadolor, who confirmed this to newsmen on Saturday, said his decision was informed by the postponement of the election by the Independent National Electoral Commission.
The INEC on Thursday postponed the poll to September 28 after the Nigeria Police Force and the Department of State Services suggested a shift linked to security threats.
But the KOWA candidate, who faulted the postponement, lamented that the failure of the commission to hold the election on September 10 “destabilised” his campaign.
He said, “I am not satisfied with the postponement of the election. They (INEC) knew that we would win the election; that was why they postponed it.
“Having done that, they have destabilised us. That is one of the reasons we withdrew.”
Osadolor, however, endorsed the candidate of the Peoples Democratic Party, Mr. Osagie Ize-Iyamu, and urged KOWA supporters to cast their votes for him.
According to him, the PDP is a better alternative because there are similarities in the manifestoes of both parties.
Osadolor said, “Because of the postponement of the election, I met with my campaign team and we decided to harness our campaign with that of the PDP. Our manifesto and the PDP’s are very similar and I think we will be able to work together. We reached an agreement with the PDP that we are going to run an inclusive government.
“PDP did not make any financial commitment to us. We have no financial agreement.”