A fire outbreak has occurred at the popular Balogun Market in Lagos Island in the early hours of today. The traders arrived in the market in the early hours of today to see their shops razed to the ground. The cause of the fire outbreak has not been revealed but the Lagos state government confirmed the incident and said an investigation on the cause of the fire has been launched. Many of the traders lamented that they had stocked millions of goods for end-of-year sales before the fire incident occurred. One of the affected traders at Balogun market, identified simply as Iya Akande, broke down in tears while narrating the incident. She lamented that some of them took loans to purchase goods ahead of Christmas and the New Year.