No fewer than 20 shops were completely razed by an inferno at Baboko Market in Illorin, the Kwara State capital.
It was gathered that some traders left huge sums of money in their shops.
Sources said the inferno was triggered by a spark from an electric cable in one of the shops when power was restored on Sunday.
Some night guards at the market were said to have noticed smoke billowing from one of the affected shops and drew the attention of leadership of the market to it.
They alerted fire fighters who prevented it from spreading to other shops.
Meanwhile, the Chairman of Ilorin West Local Government Council, Alhaji Tajudeen Zulu-Oloje, visited the scene of the incident on Sunday.
He said he received a distress call from one of the market officials around 2am, stressing that the council would do its best to reconstruct the burnt shops and assist affected traders.
Zulu-Oloje commended men of the state fire service for their quick response.
Efforts to speak to the Special Adviser on Emergency and Relief to the Governor, Alhaji Duro Mohammed, proved futile.

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