[5] Prosperidad is the venue of the Naliyagan Festival, an annual event celebrated by the entire province of Agusan del Sur.

Prior to the Spanish Colonial Period, a Manobo settlement thrived at the junction of the Sianib and Gibong River.

The natives were given Christian names and the settlement was renamed from Culilay to Las Navas", as the site was full of bancas, being the means of transportation at the time.

At the start of the American Period, Las Navas was bustling with local trades, but is experiencing constant flooding thus a new community,a business center cops up on a nearby site and was named 'Prosperidad' derived from the word Prospero or "progressive" as the place experienced growth and prosperity during the time of American Governor Zapanta.

[23] A satellite campus of the Philippine Normal University is located in Poblacion (popularly known as Bahbah) which was established in 1968.