Adepoyigi was abducted from his residence in a few days ago.
The kidnappers allegedly freed two individuals who delivered N5 million and food items meant to secure Adepoyigi’s release.
The kidnappers had initially demanded N100 million but would later settle for a negotiated N5 million sum.
They were said to have seized the ransom bearers while demanding an additional N30 million.
Clement Kolapo Ojo, chair of Ose LGA, confirmed the incident in a statement issued on Saturday by Oluwaseun Ogunniyi, his media aide.
“While we are grateful that the two volunteers have now regained their freedom, it is deeply saddening and utterly painful that the life of Nelson Adepoyigi was brutally cut short by his captors,” the statement reads.
“The entire leadership and people of Ose Local Government mourn this tragic loss. We extend our heartfelt condolences to the family, friends, and political associates of the deceased.
“We are now at a critical juncture where security challenges have become a serious threat to the safety and freedom of our people.
“Only a few days before this incident, another resident narrowly escaped being kidnapped while parking his motorcycle.
“This pattern of brazen abductions, even at the very gates of people’s homes, confirms that insecurity has taken a dangerous and intolerable dimension.
“We urge our people to remain vigilant, promptly report suspicious activities to the nearest security post, and stand united as we work together to overcome this threat.”
The Ondo police command is yet to confirm the killing.
Wilfred Afolabi, commissioner of police in the state, said detectives have been deployed to Ifon to investigate the incident.