About 17 students of the Millennium Grammar School, Grammar School Bus Stop, Lagos State are feared dead.
Available information has it that a truck carrying what appears to be crates of drinks in its interior ran into the students.
According to the sources, the students had just closed for the day when the truck ran into them.
A source put the casualty figure at between 14 and 17.
Sources said the truck driver rammed into the students in an attempt to flee from operatives of the Federal Road Safety Corps who flagged him down.
The truck has been set ablaze by passers-by.
The incident has also led to huge traffic all around the scene, stretching as far as the Lagos-Ibadan Expressway, Ogba and Lateef Jakande Road in Agidignbi.