The President of Kazakhstan Nursultan Nazarbayev on Tuesday announced his resignation.

“I have decided to step down from the office of president,” said Nazarbayev, who has ruled Kazakhstan since its independence in 1991.

His address was broadcast by all Kazakh national TV channels.

Kassym-Zhomart Tokayev, the head of the Kazakh Senate, will carry out the presidential duties until elections for his replacement.

Nazarbayev also said that he would remain chairman of the Security Council, which is vested with considerable powers.

“I remain the chairman of the Security Council, which is entrusted with extensive powers. I remain the chairman of the Nur Otan party, a member of the Constitutional Council,” he noted during his address.

Nursultan Nazarbayev, 78, is the first Central Asian leader of the post-Soviet era to willingly leave office.

In late February, Nazarbayev dismissed the country's government, citing a lack of economic growth, and pledging new reforms to improve people's quality of life.