leader is democratically elected, despite violent protests demanding an end to his 27-year rule in the West African country.
President Blaise Compaore said Thursday he had dissolved the government and will lead a transitional administration.
"On my part, I'll remain available and open to dialogue during the transition period, at the end of which, I'll relay power to the next democratically elected President," he said.
His words could further inflame tensions in the landlocked nation.
The military seized control Thursday and set a dusk-to-dawn curfew in what one general described as an effort to protect lives and restore order.
Unrest has gripped Burkina Faso -- a key partner for Western countries in the campaign against al Qaeda -- as protests against Compaore's government turned violent Thursday.
Demonstrators stormed parliament, setting fire to the building.
Gen. Honore Nabere Traore told reporters in the capital city of Ouagadougou that the dissolution of the government was in the best interest of the country.
"An interim authority will be set up in order to prepare the conditions for the return to normal constitutional order within a period of 12 months at the latest," Traore said.
In a government communique read on national radio, Compaore asked for an end to the violence.
He also withdrew a proposed constitutional amendment that included a provision that would allow him to seek another term in office, according to the communique.
Compaore has been in office since he took power following a bloody coup in 1987. The opposition has demanded his immediate resignation.
In Bobo-Dioulasso, the country's second largest city, protesters reportedly tore down a statue of Compaore.
The incident followed the reports of protesters storming the parliament building, where lawmakers were set to vote on a motion to allow Compaore to extend his time in power.
Flights in and out of Ouagadougou have been suspended, according to the Burkina Faso Embassy in Washington. Embassy personnel told CNN that it was still issuing visas but that there were no flights at the moment.
The West, particularly France, considers Burkina Faso a key ally in the fight against al Qaeda. The country was formerly known as the Republic of Upper Volta when it was established in 1958 as a self-governing colony under France.