Some buildings inside the Balogun market, located on Lagos Island are currently on fire.
According to eyewitnesses, the fire started from Anambra Plaza at Martins area of the market.
The fire has spread to about five structures and firefighters are currently battling to put out the blaze.
Traders are however in a great panic as they are trying to salvage their goods and scamper for safety while some collapse in tears.
This makes it the second time the Balogun market will be gutted by fire in two months.
Watch a short clip of the fire incident below: