Government-owned companies operating in the economic sector are referred to as

Government-owned companies operating in the economic sector are referred to as public enterprise. Public enterprise is a type of business organization in which the government or state has a controlling interest or ownership. In other words, the government owns and operates the company or corporation. These companies can operate in a wide range of sectors including manufacturing, transportation, utilities, and services. The main objective of establishing public enterprises is to serve the public interest, and to contribute to the economic development and growth of the country. Public enterprises are often established in sectors where private investment is not forthcoming or where private investment is not deemed to be in the public interest. Examples of public enterprises include the Nigerian National Petroleum Corporation (NNPC), Nigerian Railway Corporation (NRC), and the National Electricity Regulatory Commission (NERC).