The Federal University of Technology Akure (FUTA) was founded in 1981 under a drive by the then military government of Nigeria to create universities that specialised in producing graduates with practical as well as theoretical knowledge of the latest technologies in common use around the world.

Other Universities of Technology established around the same time were The Federal University of Technology Owerri , The Federal University of Technology Minna , The Federal University of Technology Yola , and The Federal University of Technology Bauchi (now "The Abubakar Tafawa Balewa University of Technology").

The first students were admitted in 1982 to a five-year degree program.