Nollywood filmmaker Kunle Afolayan has expressed concern about the rising cost of diesel, which he uses to run his businesses.
According to reports, the businessman stated that managing fuel expenses has become extremely difficult.
The film producer revealed that his businesses are spending approximately ₦11 million on diesel every four to five weeks, putting significant pressure on their operations.
Afolayan, who runs the KAP Film Village and Resort, revealed this in an Instagram video posted on Tuesday.
In the video, the filmmaker explained how high fuel costs are affecting the smooth operation of his facilities.
He stated that the price of diesel has risen dramatically, making it difficult for him to keep up with his expenses.
According to him, despite the fact that solar power has already been installed at the film village and other facilities, the businesses continue to rely heavily on diesel to ensure a consistent power supply.
Diesel prices have risen to approximately ₦1,500 per litre, which is higher than previous levels.
Afolayan also revealed that his businesses have had to buy diesel on credit in order to remain operational.
He stated that payments are usually made gradually as money comes in, and it can take up to two months for the outstanding amount to be cleared.
He said, “I’ve been sad because I can’t afford N1,500 per litre of diesel. In one of our businesses, the KAP Village, we spend approximately N11 million on diesel in four or five weeks. And we have solar power, but we still spend around N11 million.
“We have been buying diesel on credit. When we have little money, we figure out how to pay. Sometimes it takes two months to pay down and then get another one on credit. However, it is no longer sustainable to spend between N1,000 or N995 and N1,500. If you can come to our aid, I would be grateful.”
The Dangote Petroleum Refinery raised the gantry price of premium motor spirit (petrol) from ₦995 to ₦1,175 per litre, prompting his comments.
This was the third price adjustment in one week, resulting in a ₦180 increase in just three days. This was the third price adjustment in one week, resulting in a ₦180 increase in just three days.
