In a video circulating across social media, horrified neighbours could be seen from a distance wailing as the fire consumed the Palace.
The cause of the fire has not been stated and there was no sign of operatives of the Lagos State Fire Service at the scene of the incident at the time the viral video was recorded.
According to some reports, efforts by the occupants of the palace to put out the fire when it started, proved abortive and they had to evacuate all residents before the fire increased in intensity.
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