Several other people were said to have sustained varying degrees of injury in the accident.
Sadly, a woman and her two children were crushed to death in the accident, which occurred around 8am as traders at the market were opening shops.
Another man, who was an engineer with the Ibadan Properties, Mr Monsur Ajedayo, was also killed.
The victims were said to be among those waiting by the Oja Oba/Molete roadside to board vehicles.
Most of those injured were operators of commercial tricycles that had converted a part of the Mapo-Molete dual carriageway to a park.
About four of the tricycles were mangled by the impact of the collision with one of them burnt by ensuing fire.
A relative of Ajedayo, who did not give his name, said his late cousin was waiting for a taxi when he met his untimely death.
An eyewitness, Fola Omidiran, said she escaped being crushed by the truck.
“The truck skidded off the road suddenly, killing a woman and her two children immediately. It also injured many others. From what we heard, the truck had a brake failure,” she said.
A tricycle operator Yanis Lukman said more people would have died if the market had opened fully.