Water is an essential natural resource that supports life, economic growth, and environmental sustainability. In Nigeria, the constitutional provisions, statutory legislations, and customary law scatter the legislative structure for the governance of water resources. This chapter critically analyses the legal and institutional regimes governing ownership, control, allocation, and protection of water resources within the Nigerian federation. It emphasizes the mandates of federal institutions like the National Water Resources Institute (NWRI) and the Nigeria Integrated Water Resources Management Commission (NIWRMC), State Water Agencies, Local Government infrastructure, and community-based organizations. The chapter also considers the contribution of customary leaders, citizens’ organizations, and civil society organizations toward participatory and sustainable water management. Key issues that have been documented are jurisdictional clashes, poor enforcement, under-financing, and poor stakeholder consultation. This chapter submits that harmonization of the current legal tools, strengthening intergovernmental coordination, and domestication of integrated water resources management (IWRM) concepts are necessary to ensure equitable, efficient, and environmentally friendly use of Nigeria’s water resources.