This paper quantified the level of heavy metals contamination, identified possible sources of pollution, and assessed the human health risks associated with drinking water resources in Ojoto Province, Nigeria. The study’s gross findings revealed that the suitability of some water sources for consumption purposes in this province is questionable. Based on water quality index, 57.14% of the total samples are within acceptable limits, while 42.86% are unsuitable for drinking. It was observed that the northwestern and southern parts of the study area have more of deteriorated water quality. The health hazard index revealed that 25% of the samples predispose their consumers (both adult and children populations) to high chronic health risks. Moreover, heavy metal pollution index, contamination index, and probability of cancer risk (CR) revealed that about 25% of the total samples were unsuitable and off the CR standard acceptable range of ≤ 1 × 10−6–1 × 10−4. Correlation and component factor analyses linked the origin of major ions to geogenic processes and that of the heavy metals to both natural and anthropogenic processes. Cluster analysis divided the samples into two equal classes (50% each): poor and excellent quality waters. This study indicated that Pb is the priority pollutant impacting the water quality. The various assessments revealed that waters from hand-dug wells and deeper boreholes are the least contaminated and hence best suited for drinking than waters from springs, streams, and shallow wells.