Dr. Moses, Promise Z.O.
Evaluating The Impact of Business Reforms on Private Sector Growth in Rivers State, Nigeria
Abstract
This study evaluated the impact of business reforms on private sector growth in Rivers State, Nigeria. Anchored on Institutional,
Public Choice, and Systems theories, the study examined how regulatory, fiscal, and infrastructural reforms have influenced
enterprise development, productivity, and sustainability. A correlational ex post facto research design was adopted, involving a
population of 42,800 registered private enterprises and a stratified sample of 400 respondents drawn from key business clusters.
Data were collected using a validated questionnaire (α = 0.87) and analyzed with descriptive statistics, Pearson’s correlation,
and multiple regression at a 0.05 significance level. Findings revealed significant positive relationships between regulatory
reforms and business establishment (r = 0.56, p < 0.05), as well as between infrastructural and financial reforms and private
sector productivity (r = 0.52, p < 0.05). Collectively, these reforms explained 41% of the variance in private sector growth (R² =
0.41), with regulatory reforms having the greatest predictive effect. The study concludes that while reforms have improved the
business climate, challenges remain in policy consistency, institutional coordination, and financial accessibility. It recommends
stronger legal frameworks, capacity building for reform agencies, infrastructural investment, and enhanced stakeholder
collaboration to sustain private sector-led growth and economic diversification in Rivers State.
