ITF surpasses projected N48.873billion revenue in 2023

By Iyojo Ameh

The Industrial Training Fund ( ITF) says it has surpassed N48.873billion revenue projected for 2023 fiscal year by raking in, N51.344billion as at third quarter of the year.

This is as the training agency, projected N66.

The Director General of the Fund Doctor Afiz Oluwatosin Ogun stated this in Abuja during an interface with the Senate committee on Finance, Appropriation, National Planning, Local and Foreign Debts.

The ITF boss who made the submissions through the Director of Finance and Accounts, Hajia Safiya Atta Mansoor, said out of the generated revenue, N14billion had been remitted into consolidated Revenue Fund just as 50% of the revenue, used for reimbursement of employers of labour.

According to her, ITF three sources of revenues are training fund, cost fee and other incomes .

In beefing up revenue generation for the agency, the ITF Director General informed the committee members that National Artisans Registration and Development Programme would soon be put in place for registration of artisans across the country and facilitating their operations corporately.

He added that ITF is a big organisation with 16 Directors , two head offices, 41 Area Offices, 5 Skills and Training Centres, 14 Vocational Skills and Training Centres among others.

The joint committee looking into projections made by the executive for 2022 to 2026 Medium Term Expenditure Framework (MTEF) and Fiscal Strategy Paper (FSP), however tasked the agency to direct its finance department to tidy up slight discrepancies observed in the reports submitted to it.

The observed discrepancies, as stated by the Chairman of the Committee, Senator Sani Musa must be corrected this week before the committee submits its report to the Senate.