Five rows of shops at Agbeni market in Ibadan, Oyo state have been razed by fire.
The fire reportedly started around 4:30am on Sunday.
Yemi Akinyemi, general manager of Oyo fire service, confirmed the incident.
He said a security man at an adjoining bank placed a distress call to the fire service.
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The general manager said no life was lost in the fire.
He thanked the Central Bank of Nigeria (CBN) fire service for granting access to its fire hydrant to put out the inferno.
In January, the Araromi auto parts market in the state was gutted by fire.
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The fire outbreak was reportedly caused by an electrical surge, destroying goods worth millions of naira.
In April, the plank section of the Bodija market, also in the state, was razed.
The fire was also said to have been caused by an electrical spark from one of the stalls in the market.
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