President John Dramani Mahama has asked the country's youth to keep faith with government as it continues to put in place policies to improve their living conditions and to create job opportunities for them.

Addressing students of the University of Cape Coast, President Mahama also admonished the youth to enter into entrepreneurship to create more jobs for others.

“As I travel around I see budding entrepreneurs among you who will grow small business, I also see academics who would support such business with their research and innovation…and that is why I have decided to spend 1% of Ghana’s GDP on research and development by the year 2020,” Mahama said.

He added: “I also see those who probably are not entrepreneurial and would be employed by somebody that is not bad, it is encouraging and there is also hope for you.”

Mahama also urged the youth not to expect much from Ghana’s oil revenue but added that all is set for Ghana to become the hub for petroleum services in West Africa.

According to Mahama, considering the current operation and storage capacity of the Bulk Oil Storage and Transportation Company Limited (BOST) as well as the revamped Tema Oil Refinery (TOR), nothing can stop the country from exporting oil to its neighbours.