Meaning and Purpose of Setting up a Public Corporation

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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