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