Heavy metal contamination of soil at dumpsites poses risks and hazards to humans and the ecosystems through inhalation of dust particles or dermal contact with the contaminated soil. Dumpsites are usually located at the outskirts of residential areas, but due to population increase in the urban centers as result of rural-urban movement which has become living habitats without considering the health implications. Thus, Ewu-Elepe dumpsite, located on the outskirts of Ikorodu, Lagos may pose a serious threat to residents of this area due to the improper disposal and ineffective management of waste at the dumpsite also, due to the metalic health issue recorded in this area. Therefore, this study was designed to determine the Heavy Metal Concentrations (HMC) and identify the type of Key Environmental Indicators (KEIs) responsible for the heavy metal contamination at the dumpsite. The Principal Component Analysis (PCA), Nemerow Integrated Pollution Index (NIPI), and Pollution Index (PI) procedures were adopted. The Akaike Information Criteria (AIC) was employed to determine the best KEI responsible for the presence of a particular heavy metal on the dumpsite. The Heavy Metals (HMs) found on the dumpsite were Zinc, Copper, Lead, Cadmium, Calcium, Manganese, and Iron. The identified KEIs on the dumpsite were: potential Hydrogen (pH), Electrical Conductivity (EC), Total Organic Carbon (TOC), Total Nitrogen (TN), Phosphorous (P), and Carbon Exchange Capacity (CEC). The AIC at 5% showed that the most significant KEI responsible for Zn was EC with the least value (16.21), pH for Pb (26.70), P for Ca (20.71), TOC for Cu (24.61) and Mn (81.09), TN for Cd (44.97), and CEC for Fe (41.04). The PCA and NIPI estimates for the heavy metals across the 20 sample points were (1760.57, 3.00); (1825.85, 2.30); (1330.80, 2.60); (1644.68, 2.40); (1602.57, 9.70); (1469.93, 2.40); (1379.85, 3.20); (1872.82, 2.40); (1859.30, 8.40); (1397.56, 2.30); (1995.32, 4.70); (1518.62, 3.10); (1565.33, 1.80); (1332.29, 5.10); (1748.59, 2.50); (1664.70, 3.90); (1792.24, 4.10); (1801.79, 2.30); (1801.18, 2.30); (1743.27, 2.00), respectively, implying that the dumpsite was highly concentrated in HMs. Copper, lead, cadmium, calcium, manganese, and iron highly polluted Ewu-Elepe dumpsite with potential hydrogen, electrical conductivity, total organic carbon, total nitrogen, phosphorous, and carbon exchange capacity as the key environmental indicators for the heavy metals.