We learnt that the incident which occurred this morning after hoodlums attempted to vandalise the pipeline around the area.
A resident said they woke up to the loud sound and thick smoke that riddled the air after the incident, saying they were in shock.
He said the fire spread from Ijegun to Ikotun and also Ijagemo areas creating panic and fear as residents scampered for safety.
“It happened around 3am, someone called me that I should be on alert that vandals were siphoning fuel, just few minutes after the call, I heard a loud sound. We all rushed out of our house by that time of the day,” he said.
It was not yet clear how many lives were lost in the incident, but several persons have been reported injured.
Police had been called into the area and has cordoned off the spot of the incident, while fire fighters and other emergency responders have been called in.