Legendary Nollywood actor Prince Jide Kosoko has offered a rare, candid look into the financial realities of Nigeria's film industry, revealing that despite his 60-year acting career, he does not consider himself wealthy by the country's standards.
"I Can Eat Three Square Meals, But I'm Not Rich"
During an appearance on The Honest Bunch podcast, the 71-year-old screen icon reflected on his journey, stating:
"I have been in this industry for this long. I thank God that I can eat three square meals. But can I claim to be a rich man by Nigerian standards? No."
His admission highlights a harsh truth in Nollywood—longevity and fame do not always equate to financial success, particularly in an industry plagued by systemic challenges like piracy and poor monetization structures.
Kosoko’s Crusade Against Piracy: "Jail Pirates for 20 Years!"
A passionate advocate for industry reform, Kosoko slammed Nigeria’s weak copyright enforcement, arguing that current penalties do little to deter piracy—a multi-billion naira underground economy.
"The punishment in the copyright law is still not strong enough. Someone pirating works for years becomes a billionaire—how much do you fine him?
Fine him ₦500 million, and he’ll pay from his illegal profits. But attach a 20-year jail term with no option of fine, and people will stop," he asserted.
His bold proposal underscores the need for stricter legal measures to protect creatives whose works are routinely exploited by pirates.
From Child Star to Nollywood Elder Statesman
Kosoko’s career began in 1964 as a child actor in the TV series Makanjuola, making him one of Nigeria’s longest-serving actors. Despite his iconic status, his revelations mirror the struggles of many Nollywood veterans who **earn respect but not commensurate wealth.
Why This Matters
Kosoko’s story exposes broader issues in Nollywood:
- Piracy drains revenues, leaving actors and producers underpaid.
- Weak policies fail to safeguard intellectual property, enabling profiteers at artists’ expense.
- Industry legends often retire without financial security, despite their contributions.
His call for harsher penalties for pirates could spark renewed debate on protecting Nigeria’s creative economy.
Final Thought
If a 71-year-old icon with 60 years in Nollywood isn’t "rich," what does that say about the industry’s sustainability? Kosoko’s transparency might just be the wake-up call needed for real change.