…after surpassing N48.873 billion 2023 target 

By John Alechenu, Abuja 

The Industrial Training Fund (ITF), has projected a revenue target of N66.473 billion for the 2024 fiscal year after surpassing its N48.873 billion revenue target for 2023.

It has so far raked in N51.344billion in the third quarter of 2023. 

The training agency equally projected a revenue generation of N69. 744billion in 2025 and N73.2billion for 2026 .

Director General of the Fund, Dr Afiz Oluwatoyin Ogun, said this during a presentation before the Senate’s joint committees on Finance, Appropriation, National Planning, Local and Foreign Debts, in Abuja, on Tuesday. 

The ITF boss made the submissions through the fund’s Director of Finance and Accounts, Hajia Safiya Atta Mansoor. 

The DG said, out of the generated revenue, N14 billion was remitted into the consolidated Revenue Fund just as 50 percent of the revenue was used for reimbursement of employers of labour.

According to her, ITF’s three sources of revenue are training funds, cost fees and other income.

In beefing up revenue generation for the agency, the ITF DG, informed 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 said, ” Within my short stay in Nigeria, I observed that artisan jobs in the country, have 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 would soon put in place, National Artisans Registration and Development Programme to register our artisans and position them for jobs due to them .”