Prominent Nollywood filmmaker and entrepreneur Kunle Afolayan has publicly appealed for financial assistance, citing unsustainable operational costs following recent fuel price increases in Nigeria.
In a widely shared social media video, Afolayan, who manages the KAP Film Village and the Cab Village hospitality business, disclosed that his establishments spend approximately N11 million monthly on diesel, despite having solar power infrastructure. He explained that this expenditure is necessary due to the unreliability of the national grid and the limitations of the current solar system.
Afolayan detailed the severe financial strain, stating that diesel purchases are often made on credit. “It’s not sustainable because even the diesel we have been buying was on credit… and sometimes it takes two months to pay and then get another one on credit,” he said. He pinpointed the recent deregulation of the downstream oil sector, which removed subsidies, as the direct cause of his crisis. He noted the price surged from about N995-N1,000 per liter to over N1,500.
His primary request is for a loan to upgrade and expand the solar power system at his film village to reduce dependence on diesel generators. “We need a loan to upgrade our solar power. So if you can come to our aid, I will really appreciate it,” he stated, adding that the situation has left him deeply distressed.
This public appeal from a high-profile figure underscores the widespread economic impact of Nigeria’s fuel subsidy removal on businesses, large and small. While the government maintains the policy is necessary for economic stability, many enterprises reliant on alternative power sources face escalating costs that threaten their viability.
Afolayan’s case highlights a critical challenge in Nigeria’s business environment: the high cost of powering operations amid fossil fuel price volatility. His request for external funding to invest in renewable energy reflects a growing search for sustainable solutions. The outcome of his appeal may signal how businesses and the public respond to such appeals for support amidst ongoing economic pressures.
