Section 1: Statutory corporations, etc. affected

(1)
The statutory corporations and companies controlled by the Federal Government mentioned in subsection (2) of this section (in this Act individually referred to as "corporation affected") shall operate and have effect subject to this Act; and where constituted under any special enactment, that enactment shall be affected by this Act and be deemed to have been amended to any extent necessary to give effect hereto.
(2)
The following are the statutory corporations and companies referred to in subsection (1) of this section, that is to say-
(a) Federal Radio Corporation of Nigeria
(b) Nigerian Coal Corporation;
(c) Nigerian National Shipping Line Limited;
(d) Nigerian Ports Authority;
(e) Nigerian Railway Corporation;
(f) Tourist Company of Nigeria Limited;
(g) Nigeria Airways Limited;
(h) National Freight Company Limited;
(i) Central Water Transportation Company Limited;
(j) National Cargo-Handling Company Limited.
(3) The President may, if he thinks fit. from time to time by notice published in the Federal Gazette, extend the operation of this Act to other statutory corporations and companies controlled by the Federal Government by the inclusion of their names in subsection (2) of this section