This study examines the unintended consequences (otherwise called the dark side) of privatisation of Public Enterprises (PEs) in Nigeria. Nigeria’s PEs were faced with myriads of problems which made government to embark on PEs sector-wide reforms via privatisation with the hope of giving more efficient structure to the Nigerian economy with attendant benefits accrue to most of the people. Exploratory method was used in the conduct of the study. It was discovered that privatisation of PEs in Nigeria led to a number of unintended social consequences such as unemployment due to mass retrenchment of staff, low standard of living resulting from exorbitant prices of products and/or services from privatised enterprises, overconcentration of income and wealth in a few hands, and corrupt practices among others.