The primary essence of a public corporation is__________

Analyze the question: It asks about the main purpose (primary essence) of a public corporation, which is a government-owned body set up by law (statute) to run a particular business or service.

Explain the concept: In Nigeria, public corporations include the NNPC, NEPA/PHCN (now successor power companies), the Nigerian Railway Corporation, NITEL, and the Federal Road Safety Corps in some contexts. Government sets them up mainly to:

• Provide essential services (water, electricity, transport, communication) to the public
• Make those services available at affordable prices
• Run areas of the economy that private investors may avoid because returns are low or the capital needed is very large

Profit is not the main goal. Many public corporations are expected only to break even or may even be subsidized.

Step-by-step evaluation of the options:

• A. Profit realization: This is the goal of private enterprises. Public corporations may earn profit, but it is not their primary purpose. ✗
• B. Public utility: Providing essential services to the people is the core reason for setting up public corporations. ✓
• C. Formulation of government policies: This is the job of ministries, the executive, and the legislature. ✗
• D. Resolution of administrative disputes: This is the role of administrative tribunals and the courts. ✗

Answer: The primary essence of a public corporation is to provide public utility, which is option B.

Exam tip: Remember "Public corporation = Public service." If an option talks about service to the people, it usually beats profit. Use the contrast: private companies aim at profit, public corporations aim at service.