This study investigates the decline trend in sources of water in Cross River State, Nigeria, during a decade (2010–2019). The Nigeria Meteorological Agency (NIMET) Data Cloud Bank provided data that includes records of precipitation, temperature, and stream flow. The research employed statistical analyses to study temporal patterns and assess the effects on farming, industrial sectors, and domestic water utilization. The results reveal a 2% annual reduction in stream flow, with the dry season experiencing a 15% decrease and the wet season presenting a 20% increase, which remains inadequate to mitigate long-term shortages. In the decade that has passed, groundwater levels went down by 0.5 meters, linked to a 650 mm reduction in the yearly precipitation rate. Besides, the general temperatures have gone up by 3.2°C, consequently intensifying evaporation and making the water availability challenges even greater. The availability of water in Cross River State has dropped by 30%, leading to a notable decline in agricultural output (with crop yields falling by 25%), affecting water procurement for industries, and reducing household water supplies. The research underscores the influence of climate change and unsustainable practices of water extraction as primary factors contributing to this phenomenon. The strategies proposed involve the establishment of Integrated Water Resource Management (IWRM), advocating for rainwater harvesting approaches, embracing irrigation practices that are more efficient, and enforcing policies to manage water consumption. This examination points out the significant urgency for sustainable water management frameworks to respond to the worsening situation of water scarcity in Cross River State, Nigeria.