The latest update was confirmed by the acting coordinator of the Lagos Territorial Office of NEMA, Mr Ibrahim Farinloye.
Farinloye said that the cause of the explosion and casualty figure were currently unknown as at the time of filing this report, while rescue operations are still going on in the affected area.
He said the resulting fire, from the explosion, later spread to the Nigerian National Petroleum Corporation (NNPC) oil pipeline passing through the area, although though the pipeline has been shut down as a precautionary measure.
According to him, a combined team of the Lagos State Fire Service, Federal Fire Service and the Nigerian Navy Fire Tender are currently battling to put out the inferno.
The explosion, which occurred at about 9.00 a.m. on Sunday caused unrest and confusion among Lagos residents after it shook many houses in Ijegun, Festac Town, Ago Palace and other communities in the Amuwo Odofin Local Government Area up to Agege, near Lagos.
Following the incident, Pulse Nigeria also learnt that over 20 students of Bethlehem Girls High School were reportedly trapped in their dormitory.
Some of the students however, have been taken to hospital, while officials are still trying to get others out.