Carlos Figueroa, a personal friend of Villavicencio, confirmed in a video broadcast on social networks that the candidate died after being shot. He had been transferred to the Women's Clinic, a medical center closest to the site of the shooting.
Current Ecuadorian president Guillermo Lasso also confirmed the death.
"The Ecuadorian journalist and politician was the victim of an armed attack perpetrated after 6:20 p.m. in the arena of a school located in the north of Quito. Members close to his political movement, the Construye movement, reported that after the attack, Villavicencio was transferred to the Women's Clinic, the place from which his death was confirmed" El Comercio reported.
The suspect was reportedly arrested at the rally.
Ecuador's elections are scheduled for August 20th. Villavicencio was one of eight candidates vying for the presidency of Ecuador.
Villavicencio, a journalist and political activist, had consistently voiced disapproval of the nation's state-owned oil company. He has alleged that the previous government under President Correa singled him out due to his critical stance, subjecting him to a string of allegations linked to his public statements.
Villavicencio served in the National Assembly from 2017 until it was dissolved by the current president Lasso.
Ahead of the impending presidential elections, individuals in Ecuador have displayed a sense of pessimism. This sentiment arises from the nation's challenges, including economic instability and a rise in crime and insecurity.
This is a breaking story and will be updated.