Fire gutted 16 shops in Oke Arin market in Ebute Ero near Apogbon on Lagos Island on Sunday.
Firefighters from the Lagos State Fire Service and officials of the Lagos State Emergency Agency (LASEMA) were quickly mobilised to the scene to put it out.
The fire started around 10am. Goods worth millions of naira were lost in the inferno which affected containerised stores.
Olufemi Oke Osanyntolu, LASEMA Director General, said the fire emanated from one of the stores, saying its cause is yet to be ascertained.
Margaret Adeseye, Acting Head of the Lagos State Fire Service, said the fire damaged three stores while eight others were slightly affected.
According to the Fire Service boss, the stores went up in flame without any external aggression as the section of the market is not connected to electricity and nobody is believed to be around.