It's unclear what set the aircraft on fire while it was parked at the airport.
According to a report by ThisDay, the affected plane was being tested at the tarmac by the company's technical personnel when it suddenly went up in flames.
Eyewitnesses reported that the personnel tried to use a motored engine inside the hanger and as the propeller began to spin, it hit the ground power which sparked and caught fire.
Two tyres of the aircraft reportedly also burst and caught fire, causing the release of huge smoke into the atmosphere, and sending passengers and others at the airport into panic.
A huge chunk of the plane was severely burnt before fire services successfully doused the fire.
Henrietta Yakubu, the Manager, Corporate Affairs of the Federal Airports Authority of Nigeria (FAAN), has disclosed in a statement that nobody was injured in the fire incident.
No official reason for the fire accident was provided but Yakubu said the Accident Investigation Bureau (AIB) would soon swing into action.