The incident, which occurred along Ondo Road, is believed to have involved the Eiye and Alora confraternities.
Sources indicate the victim was attacked by armed men on a motorcycle while purchasing an item.
He was shot in the head and died instantly, causing panic in the area as residents fled to avoid the violence.
Osun State Police Public Relations Officer, Yemisi Opalola, confirmed the incident and stated that an investigation is underway to apprehend the suspects.
The victim's body has been taken to a morgue, and efforts to calm the situation have been implemented by the police.
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