PROPERTY worth about N7m was reportedly destroyed on Sunday as fire razed a section of Rabsih Imec Nigeria Limited, a metallurgy company in Iwo, Osun State.

Spokesperson for Osun State Fire Service, Ibrahim Adekunle, told The PUNCH that the office was contacted around 11am and told that a section of the company had been engulfed by fire.

He said, “We immediately moved to the scene. The fire started at a section where two tanks filled with oil were located. The two tanks contained about 55,000 litres used for production.

“Suddenly, the fire found its way into the tanks and with the oil in there, there was an explosion. It took us over two hours to put out the fire. Property worth N7m was destroyed. But we saved property worth over N2bn.”