The passengers, involved in a head on collision involving a Mazda and a Toyota Hiace passenger buses, were burnt beyond recognition.
The Federal Road Safety Corps (FRSC) confirmed the incident in an interview with the News Agency of Nigeria (NAN) on Thursday in Ibadan.
The FRSC Sector Commander in the state, Joshua Adekanye, said the incident occurred at about 5.30 a.m around Kilometres 12 Ijawaya on Oyo-Ogbomoso road.
He said that the buses with registration numbers LEM 963 XA and NSR 222 ZS were coming from Lagos and Nasarawa states respectively.
Adekanye said that the vehicles went on flame immediately resulting to the burning of the occupants.
He attributed the cause of the accident to speeding and over loading.
He called on motorists to always shun night travelling, speeding and overloading, adding that the fatality would have reduced if the drivers were not on night journey.