There is no oil pipeline close to the Eleyowo village where the explosion happened. In fact, the closest major public facility there is the Akure airport.
If the explosion was as a result of explosives some individuals were transporting on the road, as some Akure residents claimed, the deep gash or crater on the road negates that. Could it therefore be a meteor? These and more are questions to be answered by experts.
2nd Source:
https://www.thenewsnigeria.com.ng/2020/03/28/meteor-or-bomb-explosion-destroys-over-100-houses-in-akure/