Some buildings inside Balogun market, located on Lagos Island are currently on fire.
The fire outbreak is reported to have started from Anambra Plaza at Martins area of the market.
The inferno, according to eyewitnesses has spread to about five structures and firefighters are currently battling it.
Traders are however in a great panic as they are trying to salvage their goods and move to safety.
Other eye witnesses shared videos on social media, showing fire billowing from buildings in the crowded market.
This incident comes about a week after a similar inferno razed a timber market in the Mushin area of Lagos.
Recall that some buildings inside Balogun market were in November gutted by fire and eventually demolished after intervention by Lagos State government.