The boat, popularly known as market boat, was conveying traders to an unknown destination when it caught fire at Bonny/ Bille/Nembe Jetty at Port Harcourt township area.
The fire, which reportedly started around 10am on Monday, is still raging at the time of filing this report.
The Nation gathered one of the rescued occupants of the boat was badly burnt.
Eyewitnesses said the double deck cargo boat usually conveys over 50 persons and goods.
The fire was yet to be put out as at the time of filing this report.