The attack occurred around Mid-afternoon, Yahoo News reports.
A senior security official in Maiduguri is said to have confirmed the incident.
Speaking on the incident, an eyewitness stated:
“The market was filled with hundreds of buyers and traders when a van, loaded with goods and people… drove into the premises,” said trader Auwal Yusuf.
Nobody suspected anything because it is normal for vehicles to get up to that level but as the driver was about to stop, the bomb exploded and at least seven people were seen dead.”