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He said the remaining 98 per cent were counting on the informal sector to find a job, adding that last year the country had produced more than 90,000 graduates and that most of them remained unemployed.
Karikari commended the government for the Nation Builders Corps (NaBco) program, which it said mobilized 100,000 of the 160,000 graduates who applied for the program last year.
He spoke at an entrepreneurship awareness seminar held in Sunyani and organized by the Sunyani Technical University (STU) with the support of the Ghana Oil Company Limited (GOIL).
It was on the theme: "Changing Minds, From Job Seekers to Job Creators: Adopting Entrepreneurship as a Career Option".
Mr Karikari expressed his embarrbadment at the worsening unemployment situation in the country and called on graduates to develop their interest and to engage in entrepreneurship to seek employment.
"Your certificates alone are not enough to give you jobs," he told the students, inviting them to form groups, do extracurricular activities, and develop modules and business ideas.
He said that last year, NEIP had trained about 70,000 unemployed graduates, but had been able to help around 2,000 of them create and grow their businesses.
Mr Karikari said that a good business plan and a good idea would allow students and entrepreneurs to seek support from NEIP. He advised them to write proposals and look for online opportunities to establish themselves.
He said that good packaging and good branding would bring them products in local and international markets.
Mr. Karikari said that waste management, oil and gas, agribusiness, ICT, fashion, tourism and microfinance offered tremendous business opportunities and recommended to unemployed graduates that 39, explore these areas.
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