This paper examines the various reforms carried out in the Nigerian power sector between the year 1999 and 2007 and its impact on the life of the average citizens. Efforts were made to review relevant literatures, questionnaires were administered and forty-nine responses were received and the result was analyzed through the use of simple percentages and correlation coefficient. The correlation coefficient method, r (the product moment of the correlation was negative and of magnitude -1, implying a perfect correlation in the negative direction (deregulations and reforms are not improving the power sector of Nigeria yet). The research hypothesis, HR, stated that the deregulation and reforms did not evidently improve the power sector. It was recommended that the government should continue the rehabilitation of the various power systems in a guided manner to allow a core Nigerian investor, consider alternative sources of energy like solar, tide, biomass, wind.