- Award and pay Scholarship to deserving students who are indigenes of Oyo State in Tertiary Institution.
- Mobilize the Private Sector to contribute to Scholarship Programmes and generating money through them.
- Monitor the activities of the beneficiaries to ensure excellent performance in their academic programme.
- Ensure effective supervision of the staff of the Board for optimal performances.
- Act on behalf of the Government in respect of award of bursary and Scholarship from Federal Government of Nigeria and other Stakeholders whether Local or International.
- Perform other function that may be assigned to it by the Governor or the Commissioner.