A State Corporation is a body corporate established under Section 3 of the State Corporations Act, Cap 446, or by an act of Parliament, or under the Companies Act, Cap 486 where the Government controls majority or all of the Shares. Further, a subsidiary of a state corporation is a state corporation.

State corporations are classified into 8 broad functional categories based on mandate and core functions. These include;-

• Financial
• Commercial/manufacturing
• Regulatory
• Public Universities
• Training and Research
• Service
• Regional Development Authorities
• Tertiary Education and Training