A National Emergency Management Agency official said the death toll rose to eight on Thursday.
Tunde Adebiyi says rescuers have freed 33 people from the Lagos building since its collapse on Tuesday night, but many remain trapped because the site is hard to access.
The state government demolished three neighbouring buildings to make room for excavators.
The building sat at the heart of a popular market and served both as a warehouse and home to several families.
Millions live in substandard housing because of the high demand for accommodation in Lagos, a city of some 14 million people.
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