Meaning and Purpose of Setting up a Public Corporation
- Meaning of Public Corporation
- Purpose of Setting Up Public Corporation
What is a Public Corporation?
A Public Corporation is a government enterprise set up by an Act of Parliament to provide essential services to the people at minimal costs e.g. Federal Radio Corporation, Nigeria Television Authority, Federal Airport Authority of Nigeria, etc.
State or Federal governments can set up Public Corporations, but they are organized like private business enterprises. It usually has a Board of Directors that gives policy guidelines and a team of management that administers the corporation daily. These corporations render essential services to the general public at cheaper rates. The main reason for enterprising is to render services at minimal rates to the people.
Purpose of Setting Up Public Corporation:
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