About 300 shops were destroyed by an early Monday morning fire at the popular Oranya Market in Ibadan North-East Local Government Area of Oyo State.

The fire affected several retail shops within the market, destroying goods and properties belonging to traders.

An eyewitness said traders affected by the incident included gold sellers, furniture dealers, second-hand clothes sellers and other business owners.

The cause of the fire was not immediately known as of the time of filing this report.

The incident has left several traders counting their losses as efforts are expected to be made to assess the extent of the damage and determine the cause of the outbreak.