The suspect, Abdullahi Ibrahim, was arrested in Ore, the headquarters of Odigbo LGA.
The motorcyclist had been declared missing on Sunday before his body was discovered in the well.
The state police spokesperson, Funmilayo Odunlami-Omisanya, said Mr Bakara was in custody and being interrogated by detectives.
“Three children died, and we have counted over 15 bodies. A pregnant woman that wanted to buy the fuel also died. The money is still with her.”
Crisis started when a local farmer in one of the villages was shot with a dane gun while working on her farm.
