According to the reports and video clip that has been in circulation, neighbours and passersby helped to battle the fire while the Lagos State Fire Service was called to the scene.

ALSO READ: Fire outbreak in Lagos [Photos]

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The fire service later arrived at the scene to put out the fire.

Instablog9ja reports that the cause of the fire remains unknown as an investigation into the situation has been launched.

CEO of Hip TV  Ayo Animashaun has released a statement on the fire. He released his statement on Tuesday, November 7, 2017 on his Instagram account. According to him, the TV studio and equipment were burnt in the fire.

"On Monday, November 6, 2017 there was a fire incident at our office in Ikeja, Lagos, Nigeria.The incident was noticed at about 5.30pm when some staff saw smoke emitting from our studio.Of course we all rushed towards the direction of the smoke which had suddenly grown into an inferno. In a matter of minutes, there was pandemonium but some of our brave staffers began an immediate rescue mission.They were also joined by our neighbours especially from the Ivory Health Club until men of the Lagos State Fire Service arrived and helped to put out the fire.At the end of it all, our entire studio as well as assorted equipment, that were assembled for over a decade were razed. But we are thankful that no lives were lost.

Since the incident yesterday, there has been an outpouring of support from friends who have called and visited. I wish to thank them all.We assure our clients and fans that this set back will not affect our production. The show goes on."

A source close to Smooth Promotions, the parent company of Hip TV, revealed to Pulse that Headies will hold before the year runs out.