By Isaac Shobayo, Jos
THE Minister of Trade and Investment, Otunba Adebayo, has stated that for Nigeria to witness massive growth and development, youth empowerment must be at the forefront.
Even as the Director General of Industrial Training Fund (ITF), Joseph Ari said the Fund paid N9.4 billion to 322 companies as reimbursement and N574,112 as bank charges in 2022.
Otunba Adebayo stated this during the merit award ceremony for 2022 with the theme, “National Apprenticeship and Traineeship System: A Pathway to Job and Wealth Creation,” held at the ITF headquarters in Jos, Plateau State.
He asked the government and corporate entities to equip Nigerian youths with the requisite skills to address age-long idleness, which is tantamount to insecurity.
The minister, who was represented by Mr. Yisahwu Adepuju, Director of Commodities in the Ministry, who described ITF as the most vibrant and active agency of the Federal Government, called on the awardees to redouble their efforts as the government is expecting more from its agencies to boost the economy.
In his address, Director-General, Industrial Training Fund, Sir Joseph Ari, said the Fund has so far paid the sum of N9.4 billion to 322 companies as reimbursement and N574,112 as bank charges in 2022, adding that the Fund also ensures prompt payment of students and supervisory allowances, which amount to N1.3 billion.
“As part of our mandate and in line with the ITF Act, the Fund reimburses contributing employers up to fifty percent of the statutory annual training contributions remitted by them if the Fund’s Governing Council is satisfied that the training programs of the employer were in accordance with the Fund’s reimbursement scheme.”
“In the year under review, a total of N9,394,973,610.98 was paid to 322 companies as reimbursement, and a total of N574,112 was paid as bank charges.” “We equally organized several reimbursement workshops to apprise employers of the processes involved in the reimbursement scheme.”
He explained that ITF implemented a number of skills intervention programs that equipped over 50,000 Nigerians, especially the youth, with skills for employability and entrepreneurship.
“Our partnership and collaborative ventures with the Federal Ministry of Humanitarian Affairs, Disaster Management and Social Development, the MSMEs Survival Fund, NECA, and skills for prosperity also significantly contributed to the equipping of Nigerians with the requisite skills.”
He noted that the ITF collaborated through partnerships with relevant organizations to actualize its mandate in the fight against poverty and unemployment in the country.
“We are currently in active partnerships with the German Dual Vocational Training (DVT); Manufacturers’ Association of Nigeria (MAN); Nigeria Employers’ Consultative Association (NECA); United Nations Industrial Development Organization (UNIDO); Small and Medium Enterprise Development Agency of Nigeria (SMDAN); and Bank of Industry (BoI), among others.
He noted that the ITF disbursed housing and car loans to 76 staff and promoted 850 staff whose arrears were fully paid, and 846 staff were sponsored on various long- and short-term development programs within and outside Nigeria
Plateau State Governor, Simon Lalong, who was represented by the Commissioner of Environment, Hon. Elisha Bitrus Shehu, expressed commitment to partner with the ITF in providing skills to better the lives of citizens.
He applauded the Director General of the ITF, Sir Joseph Ari, for putting in place measures that have accelerated the national response in the fight against poverty in the country.
