Abuja, Nov. 15, 2023: The Industrial Training Fund ( ITF) says it has surpassed N48.873billion revenue projection for 2023, by generating N51.344billion as at the third quarter.
Director General of the Fund , Dr Afiz Oluwatoyin, made this known at the 2024-2026 Medium Term Expenditure Framework (MTEF) and Fiscal Strategy Paper (FSP) interactive session in Abuja, Tuesday.
The session was organised by Senate Committees on Finance, Appropriation National Planning, Local and Foreign Debts .
Oluwatoyin, represented by the Director of Finance and Accounts , Hajia Safiya Atta Mansoor , said out of the generated revenue , N14billion had been remitted into consolidated Revenue Fund, while 50 per cent of the revenue was used for reimbursement of employers of labour
According to her , ITF three sources of revenues are; training fund , cost fee and other incomes .
She said the National Artisans Registration and Development Programme would soon be put in place for registration of artisans across the country, while also facilitating their operations corporately .
This, she said would further increase its revenue generated.
” Within my short stay in Nigeria , i observed that artisan jobs in the country , had been taken over by Beninoises , Ghanaians and Togolese, which should not be so , because there is no job Nigerians cannot do .
” To stem the tide , ITF under my leadership , will soon put in place , National Artisans Registration and Development Programme, to register our artisans, and position them for jobs, due to them .”
She said that ITF was a big organisation, with 16 Directors , two head offices , 41 Area Offices , five Skills and Training Centres , 14 Vocational Skills and Training Centres, among others.
The Chairman of the Joint Committee, Sen.Sani Musa said based on projections made by the fund, for 2022 to 2026 Medium Term Expenditure Framework ( MTEF), and Fiscal Strategy Paper ( FSP) , there was the need to task ITF to direct its finance department to reconcile minor discrepancies, observed in the reports submitted to it.
According to Musa, the observed discrepancies , should be corrected this week, before the committee submits its report to the plenary.