50 Cent Roasts Diddy With Baby Oil Meme as Netflix Doc Nears Completion

50 Cent is nearing the final lap of his damning Diddy doc -- and he's reworking the logo of the much-ballyhooed baby oil confiscated by the feds ... labeling it "Diddy Oil"!!!

Of course, 50's not mass-producing the baby oil himself -- he shared a meme on Wednesday to pad the latest announcement that filmmaker Alex Stapleton would be directing and co-executive-producing the documentary project.

In another post, 50 doubled down on the point that he's a notorious Diddy detractor ... "I been telling y’all about all this weird s***, I don’t do NO puffy party’s. you didn’t believe me 🤨but I bet you believe me now!!!"

50 and Stapleton relayed to Variety that "Sean Combs’ story is not the full story of hip-hop and its culture" ...  no different than what Method Man told us -- that attaching Diddy's alleged crimes to the overall movement is weak.

TMZ Hip Hop broke the story ... 50 selected Netflix to produce his Diddy doc after an intense bidding war, and proceeds will be donated to survivors of sexual abuse and assault.

Diddy's attorney Marc Agnifilo jumps ahead of the baby oil hysteria in the upcoming TMZ Studios documentary -- "The Downfall of Diddy: The Indictment" ... in addition to the nature of those highly publicized "Freak Offs."