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• The Industrial Training Fund (ITF) is an Agency of the Federal Republic of Nigeria, established by Decree No. 47 of 1971, (now an Act as amended in June, 2011). The ITF is charged with the responsibility of providing, promoting and encouraging the ...
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The Industrial Training Fund (ITF) is an Agency of the Federal Republic of Nigeria, established by Decree No. 47 of 1971, (now an Act as amended in June, 2011). The ITF is charged with the responsibility of providing, promoting and encouraging the acquisition of skills in industry and commerce with a view to generating a pool of indigenous trained manpower sufficient to meet the needs of the public and private sectors of the economy.
- In order to facilitate the attainment of this mandate, the Act provides that every Employer having either five (5) or more employees in its establishment, OR having less than five (5) employees but with a turnover of fifty million (N50m) and above per annum, shall, in respect of each calendar year or on the prescribed date, contribute to the Fund one percentum (1%) of its total annual payroll.
- All Employers who pay their annual Training Contribution have a duty to train indigenous staff and shall accept Students on Industrial Attachment.
- The Act further provides for a refund of up to maximum fifty percentum (50%) of the amount paid by any Employer, if the training programmes of the Employer are in accordance with the ITF Reimbursement Scheme.
- Reimbursement is payable only to Employers who are up to date in payment of their Training Contribution.
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