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Says It’s Unsustainable
- Safiu Kehinde
Nollywood movie producer, Kunle Afolayan, has cried out over the new fuel prices, disclosing that he spends N11 million monthly on diesel to power KAP Film Village.
Afolayan made this known in a video shared on his Instagram handle on Tuesday while reacting to the recent hike in price of diesel on N1,500 per litre.
The movie producer admitted that the cost is not sustainable as he still spends about N11 million in every four to five weeks on diesel despite having solar power at the KAP Film Village.
“I’ve been sad because I can’t cope with the 1,500 per litre of diesel. I can’t even comprehend because in one of the businesses that we run, KAPVillage, we spend about 11 million in four to five weeks on diesel.
“We have solar power, but we are still spending about 11 million in four to five weeks, In Lagos, KAP Hub, we still spend a lot on diesel even though we have solar power.
“When this announcement of a new price on diesel came, I’ve been sad. It is not sustainable.” He said.
Afolayan further disclosed that the diesel used in power the film village is often purchased on credit and takes about two months to settle the debt before getting another one.
The movie producer solicited for loan in order to upgrade the KAP Film Village solar panel.
“Even the diesel we’ve been buying, we buy it on credit. When we make small money, we find a way to pay and even sometimes, it takes two months to even pay down and get another one on credit.
“But now from 1000 to 1,500, we need loan to upgrade our solar power. Please if you can come to our aid, I will really appreciate.” He added.
Meanwhile, the recent hikes in petrol and diesel prices have largely been attributed to the increase in global price of crude oil per barrel which is caused by the ongoing war between the United States, Israel, and Iran.
The war had resulted to the closure of Strait of Hormuz where about 25 per cent of world oil supply takes place.
Sevel oil infrastructures have also been destroyed across the Middle East on account of the war.