Section 2: Utilisation of the Fund. (As Amended by Section 3 of The Industrial Training Fund (Amendment Act) 2011)

The Fund shall be utilized to-
[1973 No. 37.]
(a)
provide, 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 private and public sectors of the economy ;
(b)
provide training for skills in management for technical and entrepreneurial development in the public and private sectors of the economy;
(c)
set training standards in all sectors of the economy and monitor adherence ; and
(d)
evaluate and certify vocational skills acquired by apprentices, craftsmen and technicians in collaboration with relevant organizations."