Yes, PROVIDE is a Scrabble word!

Letter values in Scrabble US: P 3, R 1, O 1, V 4, I 1, D 2, E 1.

Is it a valid word?

PROVIDE is a valid word in the official Scrabble dictionary (US), the UK Scrabble Dictionary and Words with Friends (ENABLE).

give something useful or necessary to
give what is desired or needed, especially support, food or sustenance
determine (what is to happen in certain contingencies), especially by including a proviso condition or stipulation
mount or put up
make a possibility or provide opportunity for; permit to be attainable or cause to remain
supply means of subsistence; earn a living
take measures in preparation for

Also: put up, allow for, bring home the bacon.