Clement Adeyi, Osogbo

An explosion on Saturday night burned the building of popular pharmaceutical company in Ile-Ife, Osun State, destroying drugs and other valuables reportedly worth N50 million.

Daily Sun gathered that the explosion which hit the premises of Ebenco Pharmacy company, located at Moore area of the town, left the one storey building in ruins.

It also damaged adjoining buildings.

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Osun State Police Public Relations Officer (PPRO) Folashade Odoro, confirming the incident, quoted Seun Adebayo, believed to be a staffer of the company, as saying that it was a fire incident, adding that no life was lost.

However, Channels TV reports an eyewitness as saying a man, rescued from the back of the building and rushed to the Obafemi Awolowo Teaching hospital, later died Sunday morning.

The police report said that the cause of the incident has yet to be confirmed, also adding that police had begun investigation to determine the cause.

The Osun State Emergency Service is still expected at the scene to clear the debris as of the time of filing this report.