Balogun Market Fire:  22-Storey Nigerian Insurance House Razed, Lives and Goods Lost

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Adegoke Nofisat adeola

A massive fire outbreak on Christmas Eve, December 24, 2025, gutted the popular Nigerian Insurance House, also known as Great Nigeria Insurance House, located at Balogun Market, Lagos Island. The 22-storey commercial plaza was engulfed by flames in the early hours of the day, leading to the loss of many lives and goods worth billions of naira.
Eyewitnesses reported that the fire spread rapidly due to the highly flammable goods stored in the building. Several traders were trapped during the first outbreak, including a woman who reportedly lost her three brothers in the incident. Emergency responders battled the inferno for hours, while rescue operations continued for days after the fire was brought under control.
In a dramatic turn of events, a survivor identified as Lukmon Abogun, popularly known as “Bachman”, was rescued eleven days after the incident. His survival raised questions about the presence of underground sections within the building, which may have contributed to both the tragedy and the rescue.
The General Balogun Union later organised a candlelight remembrance in honour of the victims who lost their lives in the disaster. Families, traders, and community members described the incident as one of the darkest moments in the history of Balogun Market.