ITF Spends N6.4bn On 430 companies
The Industrial Training Fund in 2017 disbursed N6.4bn as training reimbursement to 430 companies that satisfied all its criteria, its Director-General, Joseph Ari, said in Jos.
The ITF also trained over 90,000 vulnerable Nigerian groups and equipped them with skills for employability and entrepreneurship.
The training was in line with the six years’ plan by the organisation under the ‘ITF Reviewed Vision: Strategies for mandate actualisation’, for 2016-2022.
Ari, who gave these figures during the 2017 staff merit awards, said the ITF had also disbursed over N1.4bn “as students and supervisory allowances.”
According to him, the ITF enabling Act provided that every employer, having either five or more employees in its establishment, or less than five employees but with a turnover of N50m and above per annum shall contribute to the fund one per cent of its annual payroll.
The Act also provided that all employers paying their annual training contribution would have a duty to train indigenous workers and accept students on industrial attachment.
He said, “The Act further provides for refund of up to 50 per cent of the amount paid by any employer, if the turning programme of the employer is in accordance with the ITF’s reimbursement scheme.
“In keeping up to this statutory requirement therefore, the fund in the year under review, paid a total of N6.4bn as training reimbursement to 430 companies that met all the criteria for reimbursement.”
Ari said the payment to 90,000 vulnerable groups was achieved through the National Industrial Skills Acquisition Development Programme, Women Skills Empowerment Programme and the Skills Development Programme for Youths in Construction Trade.
He said, “I am happy to inform you that only two years into its implementation, we have recorded remarkable results. Through activities earmarked for implementation under the plan, in the year under review, the ITF trained over 37,000 Nigerians from 1,454 organisations.”
At the event, the Minister of State for Industry, Trade and Investment, Hajiya Aisha Abubakar, said the ITF had the key to renegotiating Nigeria out of economic recession by contributing to the economic recovery and growth plan of the Federal Government.