Huge Fire Ravages Ikotun Market In Lagos, Traders Lose Millions

A massive fire early Thursday, January 1, 2026, destroyed a significant portion of Ikotun Market in Lagos, leaving traders facing losses running into millions of naira.

The fire reportedly erupted around 12:05 a.m., shortly after the New Year began, and quickly spread across the market, consuming shops and goods before fire services could contain it.

Eyewitnesses described the scene as tragic, with one resident saying the market was “burnt to ashes” and many traders losing their sources of income in just a few hours.