A Nigerian hotel executive has raised concerns over the rising cost of energy in the country, describing the situation as unsustainable for businesses operating under current economic conditions.
Femi Okenla, CEO/Chairman of HDV Group and operator of Ibis Lagos Ikeja, said the cost of diesel and electricity has placed severe financial pressure on hospitality operations.
Okenla disclosed that his Ikeja hotel spends as much as $35,000 monthly on energy alone, describing the figure as alarming for a single property.
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“The cost of diesel right now in Nigeria is something else. The energy cost is suicidal,” he said.
“We’re paying in our Ikeja hotel alone as high as $35,000 (over ₦50,000,000) in just a month on energy. Then you begin to wonder where government policies are coming from. Are they really looking out for entrepreneurs in Nigeria?”
His remarks highlight growing concerns among business owners over rising operational costs, particularly in the hospitality sector, as diesel prices continue to surge across the country.
“The cost of diesel right now in Nigeria is something else. The energy cost is s¥icidal. We are paying now in our Ikeja hotel alone, as much as $35,000 in just a month and it’s a fixed cost.” – Owner of Ibis Hotel Franchise in Lagos, Femi Okenla
pic.twitter.com/i7KK5jZ4tt— Instablog9ja (@instablog9ja) April 22, 2026