Senegal's President Macky Sall decides to step down in April
In a televised interview he said the decision on a date would be part of political talks with all sides to start on Monday.
His recent decision to delay the vote, originally scheduled for Sunday, to mid-December sparked deadly protests.
His decree was ruled unconstitutional by the country's top court last week.
Many feared the postponement would lead to President Sall's remaining leader of the country indefinitely in a region plagued by coups and military governments.
President Sall said the election date would be determined after a "national dialogue" set to begin on Monday. This is to include the government, the opposition and members of civil society.
He said he felt there was not enough time to vote in a new president by 2 April, but said this forum would decide what should happen if this was the case.
In a show of good faith, President Sall said he was prepared to release the popular opposition politician, Ousmane Sonko, from prison. His arrest sparked nationwide protests last year.
Dozens of the president's opponents have already been set free since Senegal's Constitutional Council ruled that his decision to postpone the election was illegal.
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