At least 120 open shops used in storing palm oil were destroyed at the popular Daleko market in Mushin, Lagos.
The Director, Lagos State Fire Service, Mr Rasak Fadipe, told the News Agency of Nigeria (NAN) that some of the shops were also used in storing vegetable oil.
Fadipe said that the fire started at about 1:00 a.m., while the firefighters arrived at the scene at about 1.50 a.m., stressing that they were able to bring the fire under control at about 9: 00 a.m.
He said preliminary investigations revealed that the fire was caused by a power surge, stressing, however, that there was no casualty in it.
Fadipe advised Nigerians to overhaul electrical appliances in their homes and offices, from time-to-time, to avoid fire outbreaks.
NAN reports that the Lagos State Fire Service responded to 363 fire incidents during the first quarter of 2014. (NAN)