The study was an exploration of consumerism, business practices and government regulations to assess their impact on the socio-economic development of Enugu State. It sought to find out the extent of consumerism, the prevailing business philosophy and the level of implementation of government regulations. The study which was conducted among the consumers in Enugu metropolis had a sample size of 1200 respondents selected through a two stage sampling procedure. Data collected through questionnaire were analyzed with descriptive statistics. Results revealed that consumerism practices are still low due to lack of adequate knowledge, poverty, legal hick-ups, high illiteracy rate, nonchalance and weak government support. The prevailing business philosophy is profit maximization and Government agencies were inactive in enforcing regulation owing to corruption. In conclusion, Consumer Right Tribunal, Environmental Protection Tax and inclusion of consumer education in the educational curriculum were advocated.