Nollywood filmmaker and entrepreneur Kunle Afolayan has raised concerns over the rising cost of diesel, revealing that his businesses now spend about N11 million on fuel every four to five weeks, a situation he described as increasingly unsustainable.
Afolayan, the owner of KAP Film Village and Resort, made the disclosure in a video shared on his Instagram page on Tuesday. He explained that despite installing solar power systems at his facilities, the cost of diesel required to keep operations running remains extremely high.
“I’ve been sad because I can’t cope with the N1,500 per litre of diesel. In one of the businesses that we run, the KAP Village, we spend about N11 million in four or five weeks on diesel. And we have solar power, but we’re still spending about N11 million,” he said.
The filmmaker also revealed that his businesses have resorted to purchasing diesel on credit, with repayments sometimes taking up to two months before another supply can be secured.
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“The diesel we’ve been buying, we’ve been buying on credit. When we make small money, we find a way to pay. Sometimes it takes two months to even pay it down before getting another supply on credit. But now the price has moved from about N995 or N1,000 to N1,500 per litre. It’s not sustainable,” he added.
Afolayan said he now requires financial support to expand his solar infrastructure in order to reduce dependence on diesel and appealed to the public and potential investors for assistance.
“If you can come to our aid, I’ll really appreciate,” he said.
His concerns come amid a sharp rise in fuel prices affecting businesses across Nigeria.
Recently, Dangote Petroleum Refinery increased its gantry price of Premium Motor Spirit to N1,175 per litre from N995, marking the third upward adjustment within a week.
The refinery also revised the gantry price of diesel to N1,620 per litre, further increasing operating costs for businesses that rely heavily on generators.
Watch video.