Big, Small and Medium Enterprises and individuals are now promoting their products and services on online inlcuding Facebook because 40% of the people in world are now online and because facebook is the second most visited website after google.com according to Alexa ranking. It was on this notion that the research investigates audience perception of sponsored Facebook advertisement on Kwara State University students. Survey research design was adopted as a quantitative method using questionnaire for data gathering. Multistage sampling method as probability sampling technique was used to select respondents. Two hundred (200) respondents were drawn among the students using simple random sampling as probability method to pick the respondents. However, out of 200 copies of the administered questionnaires one hundred and ninety three (193) copies were retrieved upon which the analysis was based. SPSS version 20 was used to analysis data retrieved in which Descriptive Statistics with frequency tabulation and percentage method was used. Findings show that majority of the respondent were aware of buying and selling via facebook and in other online platforms, though few respondents buy or patronized facebook products and services. It further that the major challenge hampering facebook users to patronise products and services advertised among students are insecurity, lack of trust and high presence of online scammers whereas convenience, time saving, inavailability of such products/services in their area. It is recommeded that all effort should be developed to ensure that fraud is minimized to the barest minimum, so that people especially, the internet users can have a rest of mind to shop online and receive their products and services.