The Department of Economics was founded in 1962 as one of the foundation Departments of the University. The Department was initially awarding B.Sc. Social Sciences degree but this was later changed to B.Sc. degree in Economics. Also, consequent on growth in number of staff and facilities, the Department now runs Master of Science and Ph.D. in Economics.
The Department has grown over the years to become the largest in the Faculty of social Sciences and one of the largest in the University. As at 2016/2017 session there are twenty nine members of Academic Staff with twelve in the Professorial cadre, six Senior Lecturers, eight Lecturers I, and three Assistant Lecturers.
The non-teaching staff members are seven in all, made up of a Chief Confidential Secretary, two Chief typists, two Asst. Chief Clerical Officers, one Secretarial Assistant and one Senior Office Assistant. Student enrolment has grown through the years to 626 students in 2016/2017 session and the Department services many other Departments all over the University. The Curriculum has been revised over the years in line with the dictates of the Nigerian University Commission (NUC) and the needs of national and international economies. For instance, the Department has introduced new courses which include Human Resource Economics, Transport Economics and Urban Economics.
Our students have been doing very well in all sectors of the national economy especially the financial sectors where many of them occupy topmost positions. Lecturer in the Department have been performing excellently and attending national and international conferences and seminars. It is noteworthy that two lecturers of the Department who coordinated the Students-In-Free-Enterprise (SIFE) have led the group to win the first position in a national competition. As a result of this feat they represented the country in the United States of America at the International Competition in October, 2007 and placed third internationally.
The First Bank of Nigeria has donated a multipurpose building consisting of a lecture hall and lecturers’ offices for the Department in 2011. This has added to facility capacity of the Department. Finally, the department has introduced Postgraduate diploma in Economics for graduates who have never studied Economics and a Professional Masters degree in Economics. Beside, the Departmental Master of Philosophy programme has been reviewed and approved by the University senate.