"I found myself on the ground and people were walking on me," said Compaore. "I was only saved by people who pulled me onto the sidewalk."
Local newspapers are speculating that thieves set up the roadblocks so that pickpockets could steal money and mobile phones from the packed-in people.
Ouattara pledged to get answers. Some observers wondered why police did not prevent the tragedy.
"The investigation must take into account all the testimonies of victims," he said Wednesday. "We will have a crisis center to share and receive information."
Ouattara also postponed the traditional New Year's receptions at his residence, which had been scheduled for Thursday and Friday.
The leader of a human rights organization said that deadly incidents were predictable because the police and civil authorities had not taken adequate protective measures.
"The situation is deplorable," said Thierry Legre, president of the Ivorian League of Human Rights. "It is our first tragedy of 2013 but in 2012 we could already see possibility of such a tragedy because there are not adequate authorities patrolling our roads and waters."
Legre said the New Year's stampede "exposes our weak and dysfunctional civil protection system. This must be corrected immediately. The government cannot invite people to this kind of public gathering without taking adequate precautions to protect their safety and their lives."
He called on the government "to implement measures to avoid such tragedies in the future by reinforcing the civil protection system."