23 October 2026 2:34 pm WAT
Veteran Nollywood actor and filmmaker, Jide Kosoko, has revealed that he is in debt after his film, Eleko: Oba Esugbayi, failed to recover its production cost of over N300 million at the cinema.
Kosoko made this known in an interview with African A-List published on October 17, a clip of which has gone viral on social media.
He explained that the money used to produce the film came from investors who expected returns on their investments.
According to the actor, the film, which premiered in cinemas in March, did not generate enough revenue to cover its production expenses, while the little money realised was 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, “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.”
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