The Ogunpa Labaowo market in Agbokojo area of Ibadan, the Oyo State capital, has reportedly been gutted by fire.
Goods worth millions of naira were destroyed by the inferno which started in the early hours of Friday.
According to Daily post, Items such as concrete mixers, mattresses, and equipment for automobile repairs, worth millions of naira were among the valuables gutted by the fire.
One of the victims, Abdul-Jelil Oladimeji, who specialises in the repair of car shafts, lamented that he lost equipment worth several millions of naira.
In a chat with Daily Post, the chairman of the Ogunpa Labaowo Plant Mechanic Association, Azeez Ibrahim, alleged that the fire outbreak occurred as a result of a surge in power supply to the area.
Ibrahim, who further stated that many concrete mixers and their engines had been destroyed by fire, appealed to the state government to come to their aid.