Pandenoium erupted on Monday as part of Iponri Shopping Market, also known as Abibatu Mogaji Model Market, got engulfed by fire.
The fire was said to have started around 7pm in one of the shops, which is accessible through the market’s main gate.
An eyewitness said the fire started when an electric installation in one of the shops sparked.
Our correspondent, who got to the scene of the inferno around 8:30pm, noticed that the fire had spread to a number of shops inside the market, burning down numerous goods and properties.
An eyewitness, who spoke to Newsbreak, blamed the lack of a functional fire extinguisher for the spread of the fire.
The eyewitness insisted that the fire could have been contained if a fire extinguisher was present, adding that men of the Lagos State and Federal Fire Service arrived the scene of the inferno late.
Our correspondent noticed that apart from the Fire Service, operatives of the Nigeria Police Force and the Lagos State Neighbourhood Safety Corps were on ground to control the fire and maintain law and order.
The fire was still raging as at the time of filing this report.
See the video of the inferno below: