He slumped on Saturday at Ikeja Airport Hotel.
The deceased was rushed to the Lagos State University Teaching Hospital, Ikeja, where he was confirmed dead.
Chairman, Media and Publicity Committee of the caretaker committee, Otunba Femi Careena, said Osolanke died while preparing to hold a meeting on the rescheduled party’s congress.
“We are in a mourning mood as I speak with you now, everyone is sad”, Careena told newsmen.
He recalled that the deceased earlier attended a reconciliation meeting organised by the PDP leadership.
The parley was meant to resolve the face-off between Chief Bode George and Chief (Mrs.) Aduke Maina, both members of PDP Board of Trustees.