Established on 10 May 1999 by Sir Gabriel Osawaru Igbinedion CFR, IUO holds the distinction of being the first licensed private university in Nigeria.

Sir Gabriel Osawaru Igbinedion, a philanthropist and prominent figure in Benin City, provided the visionary leadership that gave rise to IUO's establishment.

[3][4] Additionally, the university's programs align with the requirements set forth by relevant professional bodies.

[5][6] Igbinedion University comprises seven distinct faculties, each catering to specific academic disciplines: Source — [7] The late Professor Anthony Uyekpen Osagie served as the inaugural vice-chancellor from 29 October 1999 to 30 November 2003.

Professor Eghosa Osaghae assumed the position of the second substantive vice chancellor, a role he held until June 2018 when Prof. Lawrence Ezemwonye became the V.C.