The collision on the Benin-Ore Motorway involved a bus, a lorry and a petrol tanker. The tanker exploded after the collision, and most of the victims were reportedly on board the bus.
It was gathered that the accident which occurred at about 1.30 pm happened when the trailer loaded with cement had a burst tyre and rammed into the petrol tanker which hit the luxury bus belonging to the Young Shall Grow Motors.
Jonas Agwu, a spokesman for the Federal Road Safety Commission said most of those killed were from the bus.
Four people from the tanker died as well as two children who were at a nearby mechanic workshop, the spokesman added. Three people were rescued.
The accident closed the busy motorway linking the commercial capital Lagos with the south-east of the country.
It comes just two days after a head-on collision between two buses in Central Nigeria killed 18 people.