Veteran Nollywood actor and filmmaker Jide Kosoko has disclosed that he is grappling with debt after his historical film, Eleko: Oba Esugbayi, failed to recover its production cost of more than N300 million following its cinema release.
Kosoko made the revelation during an interview on African A-List, published on October 17, in which he explained that the film was financed by investors who expected to earn returns from their contributions. However, the movie’s box-office performance fell short of expectations, leaving the production unable to recoup the funds invested in it.
The film, which premiered in cinemas in March, generated insufficient revenue to cover its production expenses, while the proceeds realised were shared among those involved in the project.
Speaking about the financial implications of the film’s performance, Kosoko stressed that the money used for its production was not his personal wealth but funds provided by investors.
“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.
The actor added that unforeseen circumstances affected the film’s financial outcome, leaving the investors without the expected returns.
“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 said.
The disclosure highlights the financial risks associated with cinema productions, where substantial investments do not always translate into commensurate box-office earnings. For Kosoko, the outcome of Eleko: Oba Esugbayi has left him facing financial obligations arising from a project that failed to generate enough revenue to cover its costs.
Beyond his recent financial difficulties, the veteran actor has also spoken candidly about his health and personal losses.
In an earlier interview on African A-List, Kosoko revealed that he had been living with diabetes since 1996, explaining that his decades-long experience with the condition had helped him develop a deeper understanding of his health.
“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,” Kosoko said.
He clarified that his remarks were rooted in his determination to manage his condition and preserve his life, rather than a claim to possess medical expertise beyond that of healthcare professionals.
The actor also recounted painful experiences in his personal life, disclosing that he had lost three wives. Among them was the mother of his daughter, actress Bidemi Kosoko, who died during childbirth.
“I lost my wife during childbirth; that’s Bidemi’s mother. I have lost three wives,” he said.
Kosoko’s revelations offer a glimpse into the personal and financial challenges confronting the celebrated actor, whose decades-long career in the Nigerian film industry has spanned acting, filmmaking and cultural storytelling.