Many residents and passengers are currently scampering for safety as some soldiers go on the rampage, vandalising vehicles. Videos posted on social media by some residents revealed the moments panic-stricken traders try to hide, as others take to their heels.
Pictures of vandalised vehicles were also posted on Twitter by some commuters.
Although the cause of the crisis is yet to be ascertained, some claimed that a military officer was killed the previous day in the area.
The rampaging soldiers were also said to be targeting hoodlums.
It was gathered that the military personnel stormed the area on Thursday morning to avenge the death of an officer of the Nigerian Air Force, who was allegedly mobbed to death by hoodlums.
Many vehicles, especially commercial buses have been destroyed, while some persons were assaulted by the aggrieved security operatives.
Some residents heading to work were trapped in the ensuing violence while students have fled back home.
Traders cleaning up their stores on the day of the weekly sanitation also fled just as some transporters abandoned their vehicles.
Soldiers targeting hoodlums are currently marching across the streets.
The situation has compounded the traffic woe in the cosmopolitan city as there is currently no movement in and out the part of Oshodi where the rampaging soldiers are.
Oshodi links other major parts of Lagos and a major bus terminal is in that part of the state.
The state Police Publix Relations Officer, Muyiwa Adejobi, said he was awaiting a report on the incident from the Divisional Police Officer in charge of the area.
He promised to react after getting the feedback.