N300m Film Investment Leaves Me in Debt, Veteran Actor Jide Kosoko Says

Kehinde Adeleye

Veteran Nollywood actor and filmmaker Jide Kosoko has disclosed that he is in debt after his film, Eleko: Oba Esugbayi, failed to recover its production cost of more than N300 million following its cinema release.

Kosoko made this known in a trending clip from an interview with African A-List, published on October 17, where he explained that the film was financed by investors who expected returns rather than a personal gift to him.

According to the actor, the film premiered in cinemas in March but did not generate enough revenue to cover the production expenses. He said the limited proceeds were shared among those involved in the project.

“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,” he said.

He added that the project failed to yield the expected financial returns despite the investment.

“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,” Kosoko said.

The actor also spoke about his health, revealing that he had been living with diabetes since 1996. He said his long experience with the condition had helped him understand his health better.

“I became diabetic in 1996; I understand my health better than some doctors do. Do not misquote me. I am not saying I know how to do everything, I just do not want to die,” he said.

Kosoko further disclosed that he had lost three wives, including the mother of his daughter, Bidemi Kosoko, who died during childbirth.

“I lost my wife during childbirth; that’s Bidemi’s mother. I have lost three wives,” he said.