1. Award and pay Scholarship to deserving students who are indigenes of Oyo State in Tertiary Institution.
  2. Mobilize the Private Sector to contribute to Scholarship Programmes and generating money through them.
  3. Monitor the activities of the beneficiaries to ensure excellent performance in their academic programme.
  4. Ensure effective supervision of the staff of the Board for optimal performances.
  5. 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.
  6. Perform other function that may be assigned to it by the Governor or the Commissioner.