A massive fire outbreak has ravaged the Great Nigeria Insurance House in Lagos Island’s Balogun Market, destroying goods worth millions of naira and disrupting commercial activities in one of the city’s busiest trading hubs.
Eko Hot News reports that the inferno broke out on Christmas Eve, December 24, 2025, at about 5:00 p.m., with flames first noticed from the upper floors of the multi-storey commercial building located in the heart of Balogun Market.
Eyewitnesses reported that the fire reportedly originated from the fourth or fifth floor of the structure and spread rapidly due to the presence of highly flammable materials, including textiles and clothing stored in large quantities within the building.
The Great Nigeria Insurance House, popularly known as GNI House, serves as a major warehouse and retail centre for traders dealing in fabrics, garments, and other fashion items, resulting in significant losses.
Emergency responders from the Lagos State Fire and Rescue Service, Federal Fire Service, and the Lagos State Emergency Management Agency (LASEMA) were immediately deployed to the scene to contain the raging fire.
Firefighters battled the blaze for several hours into the night, working tirelessly to prevent the inferno from spreading further to nearby buildings within the densely packed Balogun Market area.
Despite early fears that traders might have been trapped inside the building, authorities confirmed that no casualties were recorded as of Christmas Day, although several adjoining structures were affected by the fire.
The intensity of the flames caused extensive structural damage to the building, raising safety concerns about its stability and the risk it posed to surrounding properties.
Lagos State Governor Babajide Sanwo-Olu visited the scene on Wednesday, December 25, for an on-the-spot assessment of the damage, accompanied by senior government officials and security operatives.
The governor expressed sadness over the incident and commended emergency responders for their swift and coordinated efforts in controlling the fire and preventing loss of life.
Sanwo-Olu ordered that the damaged Great Nigeria Insurance House be demolished once the fire is fully extinguished, citing safety concerns due to the weakened structure.
He also assured traders and business owners affected by the incident that the state government would provide support and work with relevant agencies to mitigate their losses.
“This is a difficult moment, but Lagos has always shown resilience in times of adversity, and we will overcome this together,” the governor stated.
The fire outbreak adds to a growing list of similar incidents in Balogun Market, especially during the dry season, raising renewed concerns about fire safety standards in Lagos’ commercial districts.
Authorities have commenced investigations to determine the exact cause of the fire, while the situation at the scene has now been brought under control.
