ITF disburses N1.1 billion for SIWES

The Industrial Training Fund (ITF) has assured that it will continue to accord priority attention to the management of the Students Industrial Work Experience Scheme (SIWES) saying the Fund has paid a total of over a N1billion as SIWES students and supervisory allowances.

The Director-General of the Fund Sir, Joseph Ari who gave the assurance on Wednesday at the 2021 Annual Merit Award Ceremony of the organisation said the ITF will continue to support the training of students of Engineering, Technology and other allied disciplines in Nigeria tertiary institutions.

“As our brainchild and given its integral role in the training of Students of Engineering, Technology and other allied disciplines in our tertiary Institutions, the ITF accords priority attention to the management of the scheme.

“In the year under review, the Fund paid a total sum of One Billion, One Hundred and Ninety-Five Million, Nine Hundred and Ninety Thousand (N1,195,990,000.00) as SIWES students and supervisory allowances.”

According to him, a breakdown of the figure depicted that the sum of Nine Hundred and Sixty One Million, Eight Hundred and Sixty Thousand Naira (N961,860,000.00) was paid to 64,124 University students; One Hundred and Sixty Two Million, Nine Hundred and Twenty Thousand Naira (N162,920,000.00) was paid to 16,292 Polytechnic students, while the sum of Seventy One Million, Two Hundred and Ten Thousand (N71,210,000) was paid to 7,121 students of Colleges of Education.

Sir, Ari further assured Nigerian Students of the ITF’s continuous commitment to prompt payment of students and supervisors’ allowances as soon as money is received by the Fund from the Federal Government.

On reimbursement, the Director-General disclosed that Fund reimbursed contributing employers up to fifty per cent of the statutory annual training contribution by them if the Fund’s Governing Council is satisfied that training programmes of the employers among other things are in accordance with the Fund’s Reimbursement Scheme.

The Director-General said the Fund had equally paid a total of sum of four Billion, Six Hundred and Thirteen Million, Five Hundred and Ninety-Nine Thousand, Five Hundred and Eight Naira, Seventy-Two Kobo (N4,613,599,508.72) to 448 companies as reimbursement in the year under review.

“In addition, the Fund organised several reimbursement workshops to apprise employers of labour on the processes involved in the Reimbursement Scheme. It is our commitment to ensuring that all employers of labour are reimbursed if they meet the requirement for such reimbursement.”

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