The security operatives currently combing the place reportedly found human parts concealed in some sachets.
Many tunnels were also seen in the area which is adjacent to a perimeter fence of the Murtala Muhammed international airport.
A witness reported that a hawker who fell into the hands of the gang raised the alarm after she managed to escape.
People around the area were said to have invaded the place, where shoes belonging to males and females were found.
Three suspects have been arrested, while a sharp knife was found on one of the suspects said to have been posing as a mad man.
A police officer, who spoke off the record, said that the suspects are currently being interrogated at Isokoko police station in the Agege area of the state.
There are at least eight patrol vans of the police at the location, while a huge crowd converged on the place, making it difficult for free movement.
This has compounded the traffic situation on the every-busy Lagos-Abeokuta expressway.
The police are yet to issue a statement on the development.
Famous Olarinde-Cole, spokesman of the Lagos state police command, is yet to react to inquiries by TheCable.
The discovery of this camp comes two days after a den was allegedly discovered on the Ijaiye axis of the same expressway.
It is not yet clear if the one in Ijaiye was used by kidnappers as some residents have disputed the claim, saying hoodlums only raised a false alarm so as to steal.
During a visit to the area, different persons mentioned of how they lost their belongings on the day that two suspects were burnt alive in Ijaiye.