Nigeria’s electricity distribution companies (DisCos) have experienced a substantial revenue increase of approximately 450 percent over the past eight years, climbing from N218.16 billion. Despite this growth, the nation’s power sector faces significant challenges, including a growing debt profile now reaching N700 billion. The Federal Government of Nigeria is reportedly considering bonds to address a larger N6 trillion debt burden. While power supply has purportedly improved according to the Power Minister, available plant capacity has decreased by 41 percent, and overall supply has only grown by 4.8 percent. Thirteen years after privatization, the sector struggles to yield expected results, prompting consumer and expert reactions. This situation highlights a complex interplay between revenue gains and persistent financial difficulties within Nigeria’s electricity sector.