Eye witness accounts say casualties are high but can’t confirm the exact figures.
The incident is said to have occurred at about 6.45 am during the rush hour.
NSCDC officials, Fire Service, NEMA, the DSS and Police have been on ground battling to contain the situation.
One of the victims at Nyanya Park, Kunle Bamidele, told Channels Television that he was on a queue to get on a bus when he and other passengers heard a loud blast and scampered to safety.
Channels Television also spoke to the Head of Anti-Terror Unit of the NSCDC, whose men have been at the scene to control the situation.
“Yes the situation is exactly what you are seeing on ground, there has been an explosion of high magnitude and several lives have been lost, even as you are looking on the ground you’ll see patches of human flesh.
“We are here as first responder to try to mitigate the situation on the humanitarian intervention… It is a suspicion that it was a bomb placed on the ground, so we have asked the office to send in more people so that we can take care of this crowd control in case of the unfortunate again.”
On the casualty level, he said, “Honestly nobody can do that now but as I’m telling you we have had over 7 to 8 vehicles from Civil Defence, from NEMA and other agencies who have done evacuations.”
The NEMA Director of Search and Rescues, who spoke off camera said that at least 30 vehicles have been destroyed.