Villaverde was formerly a barrio of Solano, Nueva Vizcaya called IBUNG, founded by a Dominican Friar named Alejandro Vidal in the year 1767. More than a century later, an order from the Spanish Government was issued to Father Juan Villaverde giving instruction to organize into a town. Thus, on May 28, 1872, Ibung became a town of the province of Nueva Vizcaya.

When the American took over the reigns of Government in the country, Ibung lost its identity as a town because of insufficient funds. Moreover, most of the people residing in the area have transferred to a adjoining towns for fear of their lives from barbarics non-Christian tribes who dwelt in the mountain fastness of the cordillera mountains in the northwest part of the town. Thus, the populated was reduced, Ibung, then, became again a mere barangay of the municipality of Solano.

On June 17, 1957 through the sponsorship of the Congressman Hon. Leonardo B. Perez, Republic Act. No. 197 was enacted providing for the creation of the town Ibung. Thus, on September 01, 1957 Hon.Antonio B. Aquino was appointed as the first Municipal Mayor of the town Ibung.

Two years later, on June 21, 1959, Republic Act. No. 2515 was enacted amending Republic Act. No. 1972 changing the name of IBUNG to VILLAVERDE in Honor of the Spanish Missionary, father Juan Villaverde who had initiated the first stepin creation of the town. Hon. Romualdo Ubando was appointed as the first Municipal Mayor.