Recovered loot to be spent on job creation.

President Muhammadu Buhari

President Muhammadu Buhari has reiterated his administration’s resolve to commit recovered loots into productive ventures that would absorb thousands of graduates in gainful employment.

The President stated this in a message delivered at the swearing-in ceremony, on Friday, at the National Youth Service Corps (NYSC), Lagos Orientation camp for the commencement of the 2016 Batch A double-stream orientation course for 2,135 corps members deployed to the state.

He stated that the less cheering news of growing youth unemployment had been of serious concern to his administration, saying the challenge had taken a great toll on the Nigerian youths at their prime productive ages.

“As I said earlier on assumption of duty as the President of this country, the state of the nation’s economy is not cheering news. One of the disturbing problems inherited by this administration is increasing unemployment among the young people.

“In fact, the unemployment situation has taken a great toll on the Nigerian youths at their prime productive ages.

“The collapse of industries and the eventual over-bearing pressure to grab public jobs has put the nation in a sorry state, employment wise. Thousands of graduates from the higher institutions of learning get frustrated daily, as they search for non-existing jobs. That is why this administration is anxious to recover illicit wealth to channel them to productive economic ventures to absorb thousands into employment,” the President added.

He commended the zeal shown by Nigerian youths to be part of the NYSC scheme even as they fall within the exemption clause, saying that the development was reassuring news for the government as youths show zeal and determination to join in selfless service to the nation.

Today.