WATCH: Labor government to be sworn in next week
UPDATE: QUEENSLAND'S next government will be sworn in on Tuesday, the same day the state will find out its new opposition leader.
Premier Annastacia Palaszcuk addressed the public in a speech after visiting the Queensland Governor on Friday afternoon.
She wished departing opposition leader Tim Nicholls the best for his future before describing what her new government would look like.
"For Queenslanders, this means a strong, stable, majority Labor government," she said.
"I will continue to put Queenslanders first."
UPDATE: ANNASTACIA Palaszczuk has arrived at Government House to inform Governor Paul de Jersey she has the numbers to form government.
Ms Palaszczuk arrived at the Paddington property about 2.30pm today after 47 seats had been declared to Labor.
When asked how she was feeling, Ms Palaszczuk said she was "very excited".
Almost two weeks after Queenslanders went to the polls, LNP Leader Tim Nicholls called Annastacia Palaszczuk today to concede defeat.
The ECQ has this afternoon declared Labor's 47th seat in Thuringowa for Aaron Harper, reaching the magic number for Labor majority Government.
Earlier, the seat of Mundingburra was declared for Labor frontbencher Coralee O'Rourke.
UPDATE: Premier Annastacia Palszczuk will meet with Queensland Governor Paul de Jersey at 2.30pm to advise she can command a majority in the State Parliament.
She is set to make a speech to the Queensland public, almost two weeks after the state went to the polls, at 3.30pm.
EARLIER: LNP Leader Tim Nicholls has called Annastacia Palaszczuk to concede defeat.
Mr Nicholls made the phone call this morning.
Ms Palaszczuk will now visit the Governor to inform him she can form government before holding a press conference.
It is understood Mr Nicholls will not contest the leadership ballot to be held at the LNP party room meeting on Tuesday.
Mr Nicholls took to Twitter to announce he had conceded and issued a statement.
"Earlier today, I rang Annastacia Palaszczuk and congratulated her on forming government," his statement read.
"I wished the Premier well for the future given the important role she now has to get on with building a better Queensland without delay.
"While the result is disappointing for the thousands of LNP supporters, the MPs who did not hold their seats and the candidates who were not elected, everybody should be proud of the campaign we ran.
"Our campaign was overwhelmingly positive and focused on the issues that most mattered to Queenslanders such as creating more local jobs and lowering the cost of living - in particular, electricity prices.
"We focused on the future and not the past, but Labor's massive advertising spend focused on fear.
"I accept and take full responsibility for the LNP's campaign.
"To my fellow Queenslanders, I say thank you for your support and encouragement over the last 18 months. It's been a great honour to lead the Liberal National Party. To the people of Clayfield, thank you for re-electing me for my fifth term.
"To my colleagues and our candidates: thank you for the opportunity to serve, and for your faith, guidance and support. To those who lost their seats, our thoughts are with you.
"To my deputy, Deb Frecklington - you are a fantastic local member, Shadow Minister and Deputy and a passionate voice for all of Queensland. I could not have done this job without your support, counsel and wisdom.
"The LNP is a wonderful party. A party of vision and hope and yet a party based in the real world. I pay homage to each and every volunteer who helped our campaign and to those who stood on polling booths, delivering our positive message until the end.
"I have spoken to the Whips and requested that a party room meeting be held at 2pm next Tuesday, 12 December 2017. I will not be seeking to continue as Leader of the LNP.
"Finally, I thank my staff, friends and my beautiful and loving family, Mary, Jeremy, Duncan and Kate. I couldn't have done any of it without you."