Two of the victims are medical students, it was said.
The abductors have reportedly contacted the families of the students, demanding N2million for each of them.
The incident, which was confirmed by the institution, took place at the weekend.The students were travelling on a bus with some other commuters on Okigwe-Uturu Road when they were ambushed by the gunmen.
A student said the commuters were abducted despite countless security checkpoints on the 5kilometers road.
A police source said the command was aware of the incident and had launched a manhunt for the abductors.