The Industrial Training Fund (ITF) has surpassed N48.873 billion revenue projected for 2023 fiscal year by raking in N51.344 billion as at the third quarter of the year, Director General of the Fund, Dr Afiz Olueatoyin Ogun has said.
This is as the training agency projected N66.473 billion as revenue generation in 2024, N69. 744 billion in 2025 and N73. 2 billion in 2026.
Ogun spoke at an interface with Senate Joint Committees on Finance, Appropriation, National Planning, Local and Foreign Debts on Tuesday at the National Assembly, Abuja.
The ITF boss who made the submissions through the Director of Finance and Accounts, Hajia Safiya Atta Mansoor, said out of the generated revenue, N14 billion had been remitted into Consolidated Revenue Fund just as 50% of the revenue was used for reimbursement of employers of labour.
She said the ITF’s three sources of revenues are training fund, cost fee and other incomes.
In beefing up revenue generation for the agency, the ITF DG informed the committee members that National Artisans Registration and Development Programme would soon be put in place for registration of artisans across the country facilitating their operations corporately.
“Within my short stay in Nigeria, I observed that artisan jobs in the country have been taken over by Beninois, Ghanaians and Togolese which should not be, because there is no job Nigerians cannot do.
“To stem the tide, ITF under my leadership would soon put in place the National Artisans Registration and Development Programme to register our artisans and position them for jobs due to them,” he said.
 has surpassed N48.873 billion revenue projected for 2023 fiscal year by raking in N51.344 billion){kind=link}