It was gathered that the bus was heading towards Abuja from Lagos State when it was attacked.
It happened along Ido Ani-Ifira Expressway, Ondo State on Wednesday evening.
The bandits were said to have dragged the victims into the bush to an unknown destination.
The Divisional Police Officer in charge of Isua Akoko Police Division, Mr Hakeem Sadiq, confirmed the incident.
He said the case was reported, adding that the anti-kidnapping unit of the division and other security agencies are working hard to rescue the travellers.