The Department started as Economics and Development Studies but was renamed the department in order to meet up with the NUC BMAS. It is one of the pioneer departments that was founded at the inception of Federal University Oye assign to award Bachelor of Science degree in Economics and Development Studies. The Department was created in year 2011/ 2012 academic session with four academic staff and 40 pioneer students all based in the Faculty of Humanities and Social Sciences.  At the inception, the department was coordinated by a Lecturer II due to lack of senior colleagues on ground until February 2014 when the department got an acting HOD who handed over to another colleague in August 2015 who in turn handed the headship of the Department in September 2016 to a full-flesh HOD who is a Professor till date. The current HOD is an assiduous man with humility to the core. The department produced its first graduate in year 2015. The Faculty of Social Sciences evolved around the Department, which is the largest of the six departments in the Faculty. in terms of students and staff population.