Mob set two men ablaze on Thursday for attempting to snatch a commercial motorcycle from the rider.
According to an eyewitness, a third member of the gang escaped.
He said the suspects stole a motorcycle in the area Tuesday after killing its rider.
He added that they were chased to the point at which they were set ablaze after fleeing from the point at which they snatched the bike.
Police spokesperson in Oyo State, DSP Adewale Osifeso, said investigations into the matter had started.