The incident reportedly happened just as the governor stepped onto the platform to greet the assembled crowd of party supporters.
Video footage from the venue captured the moment the platform caved in.
The incident caused immediate panic among party faithful and security personnel stationed around the perimeter.
Emergency rescue operations were initiated on-site to assist the governor and other trapped officials.
The rally was held ahead of the upcoming August 15 governorship election in the state.
The Vice Chairman of Ifedayo Local Government Area of Osun State, Debo Farounbi, has been abducted by gunmen following an attack on Ora community, a border town along the Osun-Kwara boundary.
The incident was confirmed by the spokesperson of the Osun State Police Command, Abiodun Ojelabi, who disclosed that Farounbi was abducted and that security operatives had launched efforts to rescue him.
According to information gathered by residents, the attackers invaded the community at about 10 p.m, shooting sporadically and causing panic among residents.
Residents alleged that four people were initially abducted by the gunmen, including Farounbi. However, local volunteers and security personnel reportedly engaged the attackers, forcing them to abandon three of the victims.
A resident, who spoke, said the gunmen eventually escaped with the local government vice chairman.
“Four people, including the Ifedayo Local Government Vice Chairman, were taken away. But the resistance from security personnel forced them to abandon three of the victims. They went away with Farounbi,” the source said.