What is the Industrial Training Fund (ITF) in Nigeria all about?

What is the Industrial Training Fund (ITF) in Nigeria all about?

October 30, 2019

The Industrial training Fund (ITF) is a parastatal of the Federal Government of Nigeria under the Ministry of Industry, Trade and Investment and it was established in 1971. The essence for the establishment of the agency is to promote and encourage the development and acquisition of industrial and commercial skills required in various industries across the nation.

The ITF provides direct training, vocational and apprentice training, Research and Consultancy Services, Reimbursement of up to 50% Levy paid by employers of labour registered with it, and administers the Students Industrial Work Experience Scheme (SIWES), and also human resources services. See https://itf.gov.ng/about-us.php

The Funds of the ITF is gotten from Payroll tax which Tax payers are meant to pay. Accordingly, every employer of labour with more than 5 staff are meant to pay this tax on each staff so long as they are employed for the return of salary, wages or other consideration.

The ITF offers reimbursement and grant schemes for employment depending on the rate as published. The ITF with the funds bears part of the cost and also gives grant for further studies under this scheme.

 

The information in this blog post (“post”) is provided for general informational purposes only, no information contained in this post should be construed as legal advice, nor is it intended to be a substitute for legal counsel on any subject matter. No reader of this post should act or refrain from acting on the basis of any information included in, or accessible through this post without seeking the appropriate legal or professional advice from the particular facts and circumstances at issue from a lawyer. This post is protected by intellectual property law and regulations. It may however be shared using appropriate sharing tools provided that our authorship is always acknowledged and this Disclaimer Notice attached

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