PUBLIC CORPORATIONS.

A public corporation is an organization, set up by an act of parliament, owned and

managed by government for the purpose of providing some essential services to the public at
affordable cost. E.g. includes: Nigerian railway corporation (NRC) Nigerian ports Public liability
company PLC, Nigerian television authority (NTA), Nigerian postal services (NIPOST) etc.

FUNCTION OF PUBLIC CORPORATION.

1. Creation of employment.
2. Allows for creation of important industry.
3. It ensures that prices are controlled.
4. Takes control of an industry.
5. Provision of capital. E.g industrial bank provides capital to investors. Agriculture banks that
provides capital for investment in agricultural sector.

STRUCTURE OF PUBLIC CORPORATION.

1. A typical public corporation whether at federal or state level is run by a board of directors.
Members of the board are appointed by the president or governor.
2. Chief executive over see the day to day running of public corporations.
They are called managing directors or directors general.
They report to the supervising ministers at the federal level and commissioners at state level.
3. The supervising ministers is the link between the corporation and the president in federal, but
in the state owned corporation the commissioner is the link between the commission and the
governor.

CONTROL OF PUBLIC CORPORATION.

A public corporation may be controlled the following ways:
1. Executive (ministerial) control.
2. Legislative control.
3. Control by the press/civil society.
4. Judicial control.
5. Control by the board.

PROBLEMS OF CIVIL SERVICE AND PUBLIC CORPORATION.

1. Poor motivation.
2. Corruption.
3. Shortage of equipment.
4. Inadequate finance.
5. Public waste.