Which Statement About Parastatals in Nigeria Is INCORRECT

Which statement about parastatals in Nigeria is INCORRECT?

A) Parastatals refer only to industries indirectly owned and managed by the state.
B) Nigeria began to establish parastatals in the 1970s.
C) Nigeria began to divest itself of its parastatals as part of its structural adjustment program.
D) Although the government has sold off many of its parastatals, the state remains the country's biggest employer and the most important source of revenue.
E) One reason parastatals were established was to accelerate economic development in Nigeria.

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