1.4 Other payroll costs

Commentary

1.4.2 Industrial Training Fund (ITF)

Nigeria
Nigeria | Commentary

1.4.2 Industrial Training Fund (ITF)

Nigeria | Commentary

1.4.2     Industrial Training Fund (ITF)

This is an employer only levy.

The Industrial Training Fund (ITF) exists to:

  1.  

    •     promote and encourage the acquisition of skills in industry or commerce to generate a pool of indigenous trained manpower to meet the needs of the economy

  2.  

    •     provide management skills training for the entrepreneurial development of the economy

  3.  

    •     set training standards in all sectors of the economy

  4.  

    •     evaluate and certify vocational skills acquired by apprentices, craftsmen and technicians in collaboration with relevant organisations

(ITF service charter)

The Industrial Training Fund (Amendment) Act 2011 requires an employer to contribute 1% of annual payroll

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