EFFECT OF GOVERNMENT ECONOMIC POLICIES ON THE ENTREPRENEURIAL ECOSYSTEM IN NIGERIA: A STUDY OF SOUTH-SOUTH GEO-POLITICAL ZONE OF NIGERIA

In the South-South Geo-Political Zone, comprising states like Akwa Ibom, Bayelsa, Cross River, Delta, Edo, and Rivers, which abound with abundant resources and entrepreneurial talent, anecdotal and empirical observations have shown that the majority of the entrepreneurs are still facing difficult hurdles that prevent their success and growth. Such concerns have made it imperative to pose important questions concerning the efficiency and adequacy of economic policies being adopted by the government. Thus, a study is needed to understand the role of taxes and monetary policies on entrepreneurship within this geographical setting. Therefore, the central aim of this study was to assess the influence of economic policies formulated by the government on the business environment in the South-South zone of Nigeria. The objectives of this study were: to analyze the effect of tax policies on the business environment in the South-South zone of Nigeria; and to investigate the effect of monetary policies on the business environment in the South-South zone of Nigeria. The methodology used for this study was a literature review. From the results obtained from the analysis, tax and monetary policies have an important role in influencing the business environment. On the basis of the results obtained, it was suggested among other things that the monetary authorities should adopt measures that will ensure adequate and easy access to finance for entrepreneurs. This may involve the lowering of interest rates charged on loans to start-ups and SMEs.