The Industrial Training Fund (ITF) was established by Act No: 47 of 8th October, 1971 as amended by Act Cap 19 Laws of the Federation of Nigeria in 2011.  The enabling Decree vested ITF with the statutory responsibilities of manpower training and development in general, with the specific mandate to promote skills acquisition in Industry and Commerce.

The specific purpose for establishing the fund was to “promote and encourage the acquisition of skills in industry and commerce with a view to generating a pool of indigenous trained manpower sufficient to meet the needs of the economy”.  It was the first of three (3) Manpower Training and Development Agencies created by the Federal Government during the second National Development plan period (1970-1974).