Senate: ITF surpasses projected N48.873billion revenue in 2023

•Targets N66. 473billion in 2024

By Musa Baba Adamu

The Industrial Training Fund ( ITF) , 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 N66.473billion as revenue generation in 2024 , N69. 744billion in 2025 and N73.2billion in 2026 .
Submissions to this effect were made by the Director General of the Fund , Dr Afiz Oluwatoyin Ogun at an interface with Senate’s 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 , 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 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 and facilitating their operations corporately .
“ 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 positioned them for jobs due to them “, he said.
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 etc .
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 ( APC Niger East ) , must be corrected this week before committee submits its report to the Senate.