Hi,
It is a method that has been around awhile.
Below is a question asked on the FAQS at Ray's Figs.
http://home.planters.net/~thegivans/
Q. My fig always has lots of unripe figs left when frosts arrive. Is there anything I can do to get more ripe figs?
A. When September rolls around you might think about
oiling the ones that won't ripen on their own before frost. Oiling is easy. Take a toothpick and apply one drop of vegetable oil to the eye of each unripe fig. This is a practice developed by market gardeners growing fresh figs for the Paris markets 150 years ago. Some varieties like Hardy Chicago respond incredibly well to oiling. Virtually all of their oiled figs will ripen within a week.
Remy