University of Ibadan (UI) former Vice Chancellor Prof. Olufemi Bamiro was shot in the leg on Tuesday by gunmen.
The gunmen were said to have attacked Bamiro at Ring Road area of Ibadan, the Oyo State capital, at 7pm.
He was said to be driving home when he was waylaid by the bandits.
After being shot, Bamiro was said to have been driven away by the gunmen.
But the vehicle stopped.
Police spokesman Adekunle Ajisebutu, who confirmed the incident, said it was a case of failed kidnap.
Ajisebutu explained that the suspected kidnappers were trying to kidnap Bamiro.
He said policemen rescued him though the gunmen escaped.
The PPRO said the Commissioner of Police Sam Adegbuyi has since instructed the Criminal Investigation Department (CID) to begin investigation into the incident.
He added that Adegbuyi has ordered the anti-kidnapping squad in the command to be on the trail of the suspected kidnappers.
Bamiro was thereafter taken to the University College Hospital (UCH) for treatment.
Sources at the hospital confirmed that the former vice chancellor was responding well to treatment at the hospital.
Bamiro, a professor of Mechanical Engineering, was UI VC between 2005 and 2010.
He was succeeded by Prof. Isaac Adewole, who is now Minister of Health.