Witnesses said the terrorists struck at about 1.30pm when business was in full swing.
He said it was the heavy sounds of the gun shots that alerted them to the danger ahead.
“Many people may have been killed judging from the way the insurgents were shooting at the crowd.
Vehicles were hitting one another and the Boko Haram kept shooting,” he added.
“The death toll may be high because there were many people in the market,” the source said.