MercoPress. South Atlantic News Agency

Samond resigns, but is convinced “Scotland can still emerge as the real winner.”

“I am immensely proud of the campaign that Yes Scotland fought and particularly of the 1.6 million voters who rallied to that cause.”

Alex Salmond is to step down as Scottish first minister after voters rejected independence. He will also resign as leader of the Scottish National Party (SNP), which he has led for a total of 20 years.

Mr. Salmond, 59, is Scotland's longest-serving first minister, having held the post since the SNP won power at the Scottish Parliament in May 2007.

Speaking from his official residence at Bute House in Edinburgh, the first minister told journalists: “For me as leader my time is nearly over, but for Scotland the campaign continues and the dream shall never die.

”I am immensely proud of the campaign that Yes Scotland fought and particularly of the 1.6 million voters who rallied to that cause.“

Mr. Salmond said he would resign as SNP leader at the party's conference in November, before standing down as first minister when the party elects its next leader in a membership ballot.

He said there were a ”number of eminently qualified and very suitable candidates“ to replace him. But Nicola Sturgeon, the current deputy first minister and deputy SNP leader, is seen as a clear frontrunner.

Mr. Salmond, who will stay on as MSP for Aberdeenshire East, added: ”It has been the privilege of my life to serve Scotland as first minister.

“But, as I said often during the referendum campaign, this is not about me or the SNP. It is much more important than that.

”The position is this. We lost the referendum vote but can still carry the political initiative. More importantly Scotland can still emerge as the real winner.“

Ms. Sturgeon said she could ”think of no greater privilege than to seek to lead the party I joined when I was just 16,“ but said she would not make an announcement today.

She added: ”Alex Salmond's achievements as SNP leader and Scotland's first minister are second to none. He led the SNP into government and has given our country a renewed self confidence.“

Mr. Salmond also used his resignation statement to question Mr Cameron's more powers pledge.

”We now have the opportunity to hold Westminster's feet to the fire on the 'vow' that they have made to devolve further meaningful power to Scotland,” he said.