Nollywood filmmaker and entrepreneur, Kunle Afolayan, has raised concerns over the rising cost of diesel, revealing that his businesses now spend about N11 million every four to five weeks on fuel to remain operational.

Afolayan, founder of the KAP Film Village and Resort, disclosed this in a video shared on his Instagram page on Tuesday, describing the situation as increasingly unsustainable for his operations.

According to the filmmaker, despite installing solar power systems at his facilities, diesel consumption remains significantly high due to the energy demands of the businesses.

“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 said.

He explained that the situation has forced his businesses to purchase diesel on credit, sometimes taking up to two months to clear the debt before acquiring another supply.

“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,” he added.

Afolayan further noted that the sharp rise in diesel prices from about N995 per litre to around N1,500 per litre has worsened the financial pressure on his operations.

He said the only viable solution may be to significantly upgrade his solar infrastructure, but admitted that doing so would require external financial support.

“If you can come to our aid, I’ll really appreciate,” the filmmaker appealed to members of the public and potential investors.

His remarks come amid broader concerns over rising energy costs affecting Nigerian businesses following recent price increases by the Dangote Petroleum Refinery.

The refinery recently raised the gantry price of Premium Motor Spirit from N995 per litre to about N1,175 per litre and adjusted the price of diesel to approximately N1,620 per litre, reflecting the continued volatility in Nigeria’s fuel market.

Industry observers say the rising cost of energy is placing significant pressure on small and medium-sized enterprises, forcing many businesses to explore alternative energy solutions to remain viable.