In recent time, government expenditure on public and other ad-hoc establishments has been on the increase. This can be attributed to the resolve of govenunent for rapid and accelerated development including the welfare of the citizen hence, the underlying objectives in the establishment of public enterprises and corporations. Thus, the principle of limited government restricts the government only to its traditional statuto1y role of maintaining Law and order plus the provision of basic Infrastructures. However, the evolution of monopolistic capitalism and the attendant market failme (recess) in the 1930's led to the total adoption of an economic policy prescribed by Keynes, which is othe1wise called the Keynesian theory on economy. These prescriptions helped to get the world economy out of the depression. The prescriptions had formed the underlying factor of public enterprises and above all government intervention and participation in economic activities. There have also been some controversies over the establishment of some of these public Institutions, which led to series of political cum-economical and academic debate. These debates attempt to rationalize the establishment of some of these Institutions.