Access to water is a matter of daily survival for people around the world. Water is crucial for human survival and also central to the development of every nation. The recent literature on world water suggests that the water crisis being experienced is related to governance and not a real crisis of scarcity and stress. This paper aims at identifying water governance practices and the challenges associated with water governance in Ghana. The paper reviews the literature on the implementation of policy directives and actions with specific focus on water resources governance aspects of Integrated Water Resources Management (IWRM) in Ghana. Ghana's National Water Policy is expected to turn the fortunes of the country around in terms of water resources management. Concerning water resources management, the policy advocates for an IWRM approach. Since its implementation, certain setbacks have been challenging the effectiveness of the policy, such as inadequate institutional capacity, inadequate funding, ineffective enforcement of existing regulations, inadequate legal framework, and lack of adequate data. The paper suggests, among other things, the building of both human and institutional capacity, and making the environment a government priority, as ways to contribute to the effective implementation of the National Water Policy.