Campbell Newman has resigned as Premier of Queensland following the tense state election that saw the Liberal National Party (LNP) almost certainly defeated by Labor.

Mr Newman visited Governor Paul de Jersey and had a 40-minute meeting to tender his resignation, pending the appointment of a new premier.

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“In accordance with my constitutional duty, I have agreed it is my obligation to remain in office as caretaker Premier until that time,” Mr Newman said in a statement.

“It is a duty I take seriously and one I will continue to undertake to the best of my ability.”

Labor and the LNP have been tussling over who will claim power after a clear majority did not emerge in the state election on January 31.

They entered negotiations with independent Peter Wellington and two Katter’s Australian Party MPs to form a minority government.

Labor succeeded in securing Mr Wellington’s support meaning it had the crucial 45 seats to form a minority government.

Ms Palaszczuk planned to visit Mr de Jersey by the end of Wednesday to seek permission to form government.

The LNP looks likely to win 42 seats, and would need to secure Ferny Grove in a by-election and the support of two Katter’s Australian Party MPs to win power.

It is unclear at this stage whether a by-election will be called in Ferny Grove after a candidate was disqualified.

Palmer United Party candidate for Ferny Grove Mark Taverner, who had received 1,000 votes, was found to be an undischarged bankrupt and therefore ineligible to run in the seat.

The Electoral Commission of Queensland announced on Sunday it would refer the northern Brisbane seat to the Court of Disputed Returns after the seat was declared.

The court will then determine whether to order a by-election.