Jide Kosoko Faces Debt After N300 Million Movie Loss

Nollywood actor and filmmaker Jide Kosoko has shared that he is struggling with debt after his film, Eleko: Oba Esugbayi, did not make enough money in cinemas to cover its production cost of over N300 million. He discussed his financial troubles during an interview on African A-List, which was published on October 17.

Kosoko explained that the funds used to create the film came from investors who were expecting to get their money back. The movie premiered in March but did not generate sufficient revenue, and the little money earned was divided among everyone involved in the project.

He stated, “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 expressed his frustration, saying, “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.”

In addition to discussing his financial situation, Kosoko also opened up about his health, revealing he has been living with diabetes since 1996. He mentioned that his long experience with the condition has given him a deeper understanding of his health.

He also shared personal stories about his life, including the loss of three wives, one of whom was the mother of his daughter, Bidemi Kosoko, who died during childbirth.