Considering the necessity of a Non Govt. College in Bhola Municipality a decision for establishing a college after the name of the popular Leader Mr. Tofail Ahmed was taken unanimously in a meeting held on 5 February, 1997 presided over by the Deputy Commissioner Mr. Abdul Mannan after that on 16 February, 1997 as par the proposal of Mr. Tofail Ahmed, The College was named after the renowned freedom fighter and philanthropist Mr. Obaidul Haque who was nominated by Awamileague for contesting in the national parliamentary by election Bhola-1 in 1996 but was unfortunately assassinated in that year, replacing the name of Mr. Tofail Ahmed himself to commemorate him the college was established named Obaidul Haque College. And the founder of the college is Commerce Minister MP Mr. Tofail Ahmed.