"It is believed that many people including children are now trapped in the building", Mr Farinloye said. He was met by cheers from the waiting crowds outside.
Lagos Island, like other suburbs in Lagos, is littered with old, poorly maintained structures, most of whom would not pass basic structural engineering tests.
As part of effort to rescue the trapped pupils who were wailing under the rubbles, men of Lagos State Emergency Management Authority, LASEMA, Lagos State Fire Service, and other rescue teams have been dispatched to the scene.
Residents are continuing the search convinced there are more bodies under the rubble
The three storey building which has the school on the last floor is also a residential building with several apartments.
A parents said to have five children in the school was seen crying, saying " I have not seen any of my five children in the school.
Onlookers crowded around in the densely populated neighbourhood in Lagos, Nigeria's commercial capital and a city of some 20 million people.
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The Lagos State Emergency Management Agency officials are already on ground trying to rescue the victims.
Hundreds of people stood in narrow streets and on rooftops of rusted, corrugated metal, watching rescue efforts. A yellow excavator scooped at the ruins.
"The Ministry urges all Lagosians to report distressed buildings, illegal and non-conforming developments to the Lagos State Building Control Agency (LASBCA), Lagos State Physical Planning Permit Authority (LASPPPA) and Lagos State Materials Testing Laboratory (LSMTL) through our Helplines on our handbills", he said. Some were barefoot. Some were bare-handed. One held a water bottle in his teeth.
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Poor infrastructure has led to mass casualties in Nigeria before.
"The perceived quality of the infrastructure is low".
And two years later, at least 60 people were killed when the roof collapsed at a church in Uyo, the capital of Akwa Ibom state, in the east of the country.
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