About 300 shops have been destroyed by fire at Oranya Market in Ibadan North-East Local Government Area of Oyo State, leaving traders counting their losses.
The fire reportedly broke out on Monday morning, causing panic among traders and residents in the area as efforts were made to contain the inferno.
Several shops and goods were reportedly affected by the blaze, raising concerns over the extent of financial losses suffered by traders whose businesses were located in the affected section of the market.
The incident also disrupted commercial activities at the market as traders and residents gathered at the scene while efforts were made to prevent the fire from spreading to other parts of the market.
The cause of the fire was not immediately established as of the time of filing this report.
The incident comes as another reminder of the fire risks confronting markets, where tightly packed shops and the storage of large quantities of combustible materials can make it difficult to control outbreaks once they occur.
Authorities are expected to assess the extent of the damage and determine the cause of the fire as affected traders seek assistance to recover from the losses.
