Jide Kosoko Laments Debt After His N300m Film Failed To Make Profit At The Cinema

Veteran Nollywood actor and filmmaker Prince Jide Kosoko has revealed that he is currently burdened with debt following the financial performance of his epic movie, Eleko: Oba Esugbayi, which failed to recoup its production budget of over N300 million at the cinema box office.

Kosoko disclosed his current financial dilemma during a recently published interview on African A-List, explaining that the funds utilized for the ambitious movie project were sourced from third-party investors who anticipated financial returns.

According to the veteran producer, despite the high expectation surrounding its theatrical release earlier in March, ticket sales fell significantly short of recovering the capital invested, with the meager proceeds generated being split among distribution partners.

My film ‘Eleko: Oba Esugbayi’ that recently came out and we took to the cinemas, cost us over N300 million. Do I have 300 million? You should know that some people gave it to me and it was not that they dashed me, they invested in it and we took the film to the cinemas, Kosoko stated.

Different things happened and we did not earn our money back. The little that was earned was split. As I am, if you hear someone with debt dancing around their neck, it is me, he noted.

The veteran actor’s revelation highlights the growing financial risks and volatile returns facing independent filmmakers in the Nigerian cinema distribution ecosystem despite rising production standards.