The minister made this known in a statement on Friday in Abuja, his withdrawal from the presidential race was in the interest of the nation.
Ngige had on April 19 at his hometown in Idemili South Local Government Area of Anambra State declared his intention to join the 2023 Presidential Race.
But announcing withdrawal from the race to succeed President Buhari come 2023, Ngige said he had yet to fill and submit the N100 million worth expression of interest and nomination forms of the All Progressives Congress (APC) bought for him.
He cited other reasons to include family-related and to enable him to concentrate on his ministerial job and assist the present administration, especially in what he describes as the difficult last lap.
The labour minister stated that he has since communicated his decision to the President Buhari and the Secretary to the Government of the Federation (SGF), Boss Mustapha.
President Muhammadu Buhari on Friday held a valedictory session at the Council Chamber of the Presidential Villa, in honour of ministers seeking elective offices in the 2023 general elections.
He had on Wednesday directed all appointed members of the Federal Executive Council (FEC) running for elective offices to resign on or before May 16.