This study is an assessment of the possible effects of the dredging project on the water quality of the surrounding environment. Water quality data for the Bonny offshore river were collected. The parameters assessed were temperature, dissolved oxygen (DO), pH, biochemical oxygen demand (BOD), total dissolved solids (TDS), total suspended solids (TSS), nitrogen as nitrate, and phosphate. The concentrations of TDS, TSS, and nitrate far exceeded the permissible standard. There were significant differences between the dry and rainy season values of BOD5, TDS, TSS, nitrate, and phosphate. Also, the sediment physicochemical analysis indicated the presence of heavy metals such as Pb, Fe, Cd, Zn, Cr, and elements such as Ca, K, and Na. Following an assessment of the potential impact of the project using interaction matrix and checklist questionnaires, results showed that the major physicochemical parameters influenced by dredging are DO, TDS, TSS, heavy metals and calcium, potassium, and sodium. Mitigation measures for eliminating or reducing the negative impacts of dredging are presented.