The Northern Territory's Country Liberal Party (CLP) will have a new leader by the start of next month, with deputy leader Lia Finocchiaro taking on the top spot following the resignation of Gary Higgins this morning.

Key points: Gary Higgins was first elected to the seat of Daly at the 2012 election

Gary Higgins was first elected to the seat of Daly at the 2012 election Mr Higgins served as sport minister and environment minister in the Giles ministry

Mr Higgins served as sport minister and environment minister in the Giles ministry Deputy CLP leader Lia Finocchiaro will take over as opposition leader on February 1

CLP president Ron Kelly played down any conjecture that the party was eyeing any other leadership contenders and said Ms Finocchiaro, who is the Member for Spillett, would take over as opposition leader from February 1.

"The Country Liberal Party is 100 per cent behind Lia Finocchiaro as the Parliamentary leader," he said.

Opposition Leader Gary Higgins announced he was stepping down from politics due to health problems and had made the decision after discussions with family.

The Member for Daly became the leader of the Country Liberals Opposition after the landslide 2016 Northern Territory election left his party with just two seats in Parliament.

Mr Higgins, 65, said he would continue to serve his electorate until the next Territory election in August.

Gary Higgins served in multiple portfolios as part of the Giles ministry. ( ABC News: Andie Smith )

Finocchiaro hails Higgins, makes early election pitch

At a press conference, Ms Finocchiaro paid tribute to Mr Higgins's "determination in rebuilding the CLP" and said she was energised by the challenge of leading the CLP to the 2020 election.

"[He] can be very proud of the legacy he leaves and I certainly look forward to working with him for the remainder of this term," she said.

Ms Finocchiaro outlined the economy and community safety in an election pitch to voters, saying these issues would be "at the centre of our minds when thinking about who we vote for at this next election".

She also said the CLP, if elected, would "fix power prices", protect public service jobs and assured voters the CLP would "not sell public assets".

Ms Finocchiaro said policy announcements would flow after the party named its remaining candidates.

"I am ready for [the] challenge, I am excited about [the] challenge, and I'm looking forward to leading our candidates to the election in August," she said.

"Together with the party, and the candidates, we will show Territorians we have the policies and the confidence and the commitment to do what is necessary to ensure prosperity into the future."

'The right decision'

After previously flagging his intention to contest the 2020 election as Opposition Leader, Mr Higgins said his decision to step away from politics came after time with his family over the Christmas period.

"My reasons for resigning the role are personal, and suffice to say that I've had a number of health issues recently which need attending to and I cannot effectively serve as Opposition Leader while addressing these issues," Mr Higgins said.

"This is a personal and family decision that I've wrestled with, but I believe is the right decision.

Mr Higgins said he would "ensure a smooth transition" of the CLP leadership to Ms Finocchiaro.

"I will serve the rest of the term supporting Lia Finocchiaro and working for the electorate of Daly," he said.

Mr Higgins said he had worked hard to restore public trust in the CLP. ( ABC News: Dane Hirst )

Higgins proud of role as CLP stabiliser

Mr Higgins said one of his main priorities as Opposition leader had been working to rebuild the CLP after the party's devastating 2016 election loss.

The CLP's term in government from 2012 and 2016 was marred by numerous scandals and political instability and division.

After the 2016 election, Mr Higgins apologised to Territorians for the behaviour of the ousted CLP government.

"As I stated at the time it was not good enough, and even though there were some great achievements that were planned for a prosperous Territory future, the sheer force of unnecessary shenanigans overshadowed everything and the CLP was deservedly ousted despite gaining more than 30 per cent of the primary vote," Mr Higgins said.

He said since the 2016 election he and Ms Finocchiaro had worked to restore the public's trust in the CLP.

"That's ongoing and the feedback so far has been encouraging," Mr Higgins said.

Reflecting on his politcal tenure, Mr Higgins said it had been "a great honour to serve as the Member for Daly for eight years".

"I've been humbled by the support of the electorate and been committed to its betterment," he said.

Mr Higgins was one of only two CLP members to survive the party's 2016 electoral wipe-out. ( ABC News: Jacqueline Breen )

"The overwhelming desire to work for the good of the Northern Territory has driven me during my years as a parliamentarian and I'll miss working for Territorians.

"I strove to be a good local member, a decent contributor to parliament, and, in government, a thoughtful minister.

"It will be up to others to judge me on my record, and I only hope that their conclusions will be kind."