A warehouse in Mandilas Building, Broad Street in Lagos Island is on fire.
The fire according to the Lagos State Fire and Rescue Service originated on the first floor and has now reached the fourth floor, reports Channels TV.
No casualty has been recorded thus far.
While emergency workers are in the area, the cause of the fire, which is feared to have destroyed goods worth millions, is yet to be disclosed as of the time of this report.
Minutes after the inferno, some traders stormed the place and were captured trying to salvage some of their goods and other valuables.
But rescue workers are at the scene trying to put out the fire.