All these are the characteristics of a Public Corporation EXCEPT

Analyze the question: We need the one option that is NOT a characteristic of a public corporation.

Concept: A public corporation (e.g., NEPA/PHCN, NNPC, Nigerian Ports Authority, NITEL) is a government-owned enterprise set up to provide essential services or run strategic businesses for the public benefit.

Key characteristics:

• Established by an Act of Parliament (or a decree/law), which spells out its powers and functions
• Has a separate legal identity, so it can sue and be sued, own property and enter contracts
• Owned by the government on behalf of the people, not by private individuals
• Funded by government (public funds and tax revenue), plus its own revenue and sometimes loans
• Provides essential services such as electricity, water, transport and communications
• Managed by a board appointed by the government
• Accountable to the government/parliament through a supervising ministry

Checking each option:

• A. Can sue and be sued: This is a characteristic, since it has legal personality.
• B. Established by an act of parliament: This is a characteristic.
• C. Financed with taxpayers' money: This is a characteristic, because government funding comes from public revenue.
• D. Owned by some powerful individuals: This is NOT a characteristic. Ownership by individuals describes a private company. A public corporation is owned by the government (the public).
• E. Renders essential services: This is a characteristic.

Answer: The option that does not fit is D.

Exam tip: In "EXCEPT" questions, look for the option that describes a private feature (private ownership, profit for shareholders). Public corporation = government ownership, created by law, serves the public.