In Nigeria, public corporations are also known as parastatals. Parastatals are government-owned enterprises or organizations that operate independently of the government but are still accountable to it. They are usually established to provide essential services such as transportation, utilities, and communication. Parastatals can be found in various sectors of the economy, including energy, healthcare, education, and agriculture. They are created to achieve specific public policy objectives, and their operations are typically guided by a governing board or council.