Even though Nigeria is recognized for her rich vegetation and tropical weather and blessed with surplus water resources, the country still faces challenges on getting clean water supply around the country and mostly depend on alternative water supply like well, borehole and river. These alternative water supply systems are not efficient and viable enough for water supply systems especially in a country with large population. The country is characterized by irregular water supply and water management laws are also weak and mostly not in conformity with today's standard and needs. Proper management and conservation of the water supply services and resource has not given adequate attention by the government. It is, therefore, important to identify such factor that inhibits the implementation of water regulations and proffer a solution to these. In a bid to provide an understanding of the effect of implementing and enforcing stringent water regulation and providing adequate water supply, we compare forecasted population with investment capital expenditure (CAPEX) for water supply by Millennium Development Goal (MDG+) targets. The result shows that in year to come, the country will significantly benefit from investing and providing regular water supply through employment availability and revenue generated through utility water bills, spending less on epidemic of water-borne diseases thereby improving the lives and health of its citizen.