Established in 1971, the Industrial Training Fund has operated consistently and painstakingly within the context of its enabling laws Decree 47 of 1971 as Amended in the 2011 ITF ACT. The objective for which the Fund was established has been pursued vigorously and efficaciously. In the four decades of its existence, the ITF has not only raised training consciousness in the economy, but has also helped in generating a corps of skilled indigenous manpower which has been manning and managing various sectors of the national economy.
Over the years, pursuant to its statutory responsibility, the ITF has expanded its structures, developed training programmes, reviewed its strategies, operations and services in order to meet the expanding, and changing demands for skilled manpower in the economy. Beginning as a Parastatal “B” in 1971, headed by a Director, the ITF became a Parastatal “A” in 1981, with a Director-General as the Chief Executive under the aegis of the Ministry of Industry. The Fund has a 13 member Governing Council and operates with 10 Departments and 3 Units at the Headquarters, 33 Area Offices, 3 Skills Training Centres, and a Centre for Industrial Training Excellence.

The Governing Council of th Board

A Governing Council of thirteen members drawn from the public and private sectors will be appointed by the Federal Government to manage the Fund. This is to reflect the co-operative spirit of the enterprise, the need for private employers, organized labour, and the providers and users of training to co-operate in identifying training needs and devising training policy and system.

As part of its responsibilities, the ITF provides Direct Training, Vocational and Apprentice Training, Research and Consultancy Service, Reimbursement of up to 50% Levy paid by employers of labour registered with it, and administers the Students Industrial Work Experience Scheme (SIWES). It also provides human resource development information and training technology service to industry and commerce to enhance their manpower capacity and in-house training delivery effort.

The main thrust of ITF programmes and services is to stimulate human performance, improve productivity, and induce value-added production in industry and commerce. Through its SIWES and Vocational and Apprentice Training Programmes, the Fund also builds capacity for graduates and youth self-employment, in the context of Small Scale Industrialization, in the economy.

The Industrial Training Fund is a grade ‘A’ Parastatal operating under the aegis of the Federal Ministry of Industry, Trade and Investment. It has been operating
for 46 years as a specialist agency that promotes and encourages the acquisition of industrial and commercial skills required for national economic development.

Vision Statement
To be the foremost Skills Training Development Organization in Nigeria and one of the best in the world.

Mission Statement
To set and regulate standards and offer direct training intervention in industrial and commercial skills training and development, using a corps of highly competent professional staff, modern techniques and technology.