Chemical products and other valuables worth over N100 million were razed by an inferno in a company, Megadot Nigeria Limited, Akure, Ondo state capital.
The company, located within the premises of the state Trade Fair Complex, Akure, housed chemicals used for the production of paints, wood finishers and thinner lacquer, among others.
It was learnt that the fire incident started around 10pm on Friday as a result of alleged power surge.
An eye witness account, Kolawole Bello, said that high voltage from public power source caused the inferno, adding that” the timely response of Fire Service men saved the Trade Fair Complex from burning”.
Bello said the inferno started from the chemical company before extending to other places.
Owner of the company, Bisi Ogungbemi, told newsmen that he received a call from the factory and that he thereafter made a distress call to the Fire Searvice who promptly responded.
The state Commissioner for Works and Infrastructure, Hon. Taofeek Abdulsaalam, who visited the scene of the incident, said preliminary investigation into the incident indicated that the fire outbreak was caused by power surge.