The explosion happened in the early hours of Saturday at Eleyowo, Akure, along Owo-Akure highway around 1 a.m.
According to residents of the area, a terrifying loud bang was heard when everyone was already asleep.
Also affected in the explosion was a full boarding school, Aina Awawul Secondary School, one of the most popular churches in Akure, Possibility Ground Ministry, as well as filling station and hundreds of buildings.
The highway was cut off with hundreds of travelers stranded.
Police officers and other security agencies are already on ground to assess the situation.