A fierce fire erupted at midnight and ravaged four electronics shops in Lagos’ Ikotun Market on January 1, 2026, obliterating goods worth billions of naira.
The fire ignited around 12:05 a.m. in a bustling electronics plaza near GUO Transport, swiftly consuming televisions, washing machines, generators, and other high-value inventory while traders celebrated the New Year elsewhere.
Eyewitnesses captured harrowing videos of flames leaping skyward and thick smoke billowing over the area, as frantic residents cried out in despair.
Fortunately, the timing spared lives—no casualties emerged from the chaos, since the market stood empty during holiday festivities.
Firefighters arrived to battle the inferno, but delayed responses amplified the destruction, leaving only charred remnants by dawn.
One trader, speaking anonymously in a viral clip, lamented, “Properties worth billions destroyed and burnt,” highlighting the personal toll on small business owners who now face ruin without mentioned insurance.
Meanwhile, social media erupted with outrage, as users pointed to a suspicious pattern:
This marks the third major market fire in Lagos within weeks, following devastating blazes at Balogun and Arena markets in late December 2025.
Speculation swirled online, with many voices alleging foul play in these Igbo-dominated trading hubs.
For instance, activists claimed the incidents reflect targeted attacks, noting, “In a space of 10 days, how many major markets dominated by Igbos in Lagos have been set on fire.”
Others dismissed such theories, attributing the fires to electrical faults, overcrowding, or even firecrackers from New Year’s revelry.
However, the recurring disasters have intensified calls for investigations into arson and urgent upgrades to fire safety infrastructure in Lagos’ densely packed commercial zones.
Authorities have yet to release an official cause, but Lagos State officials promised swift probes and support for affected traders.
In the interim, community leaders urged donations and relief efforts to help victims rebuild amid economic hardship.
As one post poignantly stated, “Traders starting 2026 in despair”—a stark reminder of vulnerability in Nigeria’s vibrant markets.
