NSPS is a nonprofit and nonpolitical organization of Physical Scientists incorporated by the Corporate Affairs Commission of Nigeria on January 9, 2019 (CAC/IT/NO 123135). The main objective of the Society is to promote the research and study of Physical Sciences in Nigeria and provide effective programs in its support.

The procedure of incorporating NSPS started in January 2018 via verbal discussions between Dr. Babatunde James Falaye and Dr. Oladiran Johnson Abimbola about the necessity to promote the research and study of physical sciences in Nigeria through the organization of conferences, workshops, scholarship programs, scientific prize and award, journal publication, etc. Later in February 2018, the duo interacted with some other senior colleagues for advice. In March 2018, they came across some other colleagues (Dr. Oluwadare Joshua, Dr. Wasiu Yahya, and Dr. Tolulope Latunde) who also share the same idea with them and eventually contributed immensely towards the realization of this society. The public notification of this society appeared first in several daily newspapers which include The Nation, Daily Trust, and New Telegraph as ``Nigerian Physical Society" on May 7, 2018.

In September 2018, a notification was received to rephrase the name before the consent of the Registrar General of the Corporate Affairs Commission of Nigeria could be obtained. After much deliberation among the prospective Trustees, they resort to changing the name to ``Nigerian Society of Physical Sciences". Consent and approval of this name were granted in November 2018. This was publicized in several daily newspapers which include Leadership, Pilot and Blue Print on November 6, 2018. Finally, Nigerian Society of Physical Sciences was incorporated in January 2019 with a goal to promote the research and study of Physical Sciences in Nigeria and provide effective programs in its support.

Shortly after its incorporation, NSPS became affilliated with many international communities which includes American Metrological Society, Isreali Physical Scociety, Geophysical Society of America, etc.

In 2019, NSPS lunches its first journal named Journal of the Nigerian Society of Physical Sciences. This peer-reviewed journal published quarterly (February, May, August, and November) offers an exciting publication outlet for Physical Science reports. It covers all areas of Theoretical Physics, Geophysical & Atmospheric Physics, Radiation & Medical Physics, Solid State Physics, Astrophysics & Cosmology, Environmental Chemistry, Physical Chemistry, Organic & Inorganic Chemistry, Artificial Intelligence, Computer Architecture & Engineering, Database Management Systems, Human-Computer Interaction, Operating Systems & Networking, Pure Mathematics, Number theory, Applied mathematics, Mathematical Finance, Numerical Analysis & Scientific Computing, Topology & Differential Geometry, Biostatistics & Data Science Decision Analysis and Support, Econometric Modelling, Planetary Exploration and Exoplanets. This journal became the first Nigerian Science journal to be index in Scopus within two years.