“We’ve been buying on credit,” Kunle Afolayan seeks support as diesel costs for his film village and resort hit N11m monthly

Filmmaker and entrepreneur Kunle Afolayan has raised concerns over the heavy financial burden of diesel used to power his businesses, disclosing that his operations now spend as much as N11 million every four to five weeks.

Afolayan, who owns the KAP Film Village and Resort, made this known in a video posted on his Instagram page, explaining that the rising cost has become difficult to manage despite the installation of solar power systems.

“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 N11m in four or five weeks on diesel. And we have solar power, but we’re still spending about N11m,” he lamented.

He explained that his businesses now rely on purchasing diesel on credit, with repayments sometimes extending for as long as two months.

“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 down and then get another one on credit. But now from about N1,000 or N995 to N1,500, it’s not sustainable,” he said, adding that he now requires a loan to upgrade his solar infrastructure.

Afolayan appealed for assistance to expand his solar power facilities as Nigeria continues to grapple with rising fuel prices.

“If you can come to our aid, I’ll really appreciate”, he added.

His appeal comes shortly after the Dangote Petroleum Refinery increased the price of diesel to N1,620 per litre.