I Am The One Carrying Debt Around My Neck — Jide Kosoko Cries Out After Movie Flop

Veteran Nollywood actor and filmmaker Jide Kosoko has revealed that he plunged into debt after his movie, Eleko: Oba Esugbayi, failed to generate enough revenue at the cinema to recover its production cost of more than ₦300 million.

Kosoko made the revelation during an interview on the African A-List podcast, where he discussed the financial challenges associated with producing and distributing films in Nigeria’s cinema industry.

According to Bush Radio Academy, the veteran actor explained that the money used to produce the film came from investors who expected to earn returns from the project rather than from personal funds available to him.

He disclosed that the film’s cinema release did not generate sufficient revenue to cover the production expenses, leaving him and the other parties involved facing significant financial losses.

Kosoko explained that the investment exceeded ₦300 million, stressing that the funds were provided by individuals who believed in the project and expected the film to deliver commercial success.

He noted that the investors had not given him the money as a gift but had committed their resources in anticipation of making profits from the movie.

The actor further revealed that the limited revenue generated from the cinema release was distributed among the parties involved, leaving them unable to recover their initial investment.

Kosoko described his financial situation as difficult, admitting that he was among those left burdened by debts following the disappointing performance of the production.

His disclosure has drawn attention to the financial risks filmmakers face when investing heavily in cinema productions, where substantial budgets do not always guarantee box-office success.

The experience also highlights the challenges associated with securing investment for film projects, as producers must contend with production expenses, distribution arrangements and audience turnout while hoping to recover their costs.

Kosoko’s revelation comes amid broader discussions within Nollywood about the difficulties of achieving profitability through cinema releases. Fellow actor and filmmaker Ramsey Nouah has also reportedly spoken about the challenges filmmakers encounter when taking their productions to cinemas, particularly when significant spending fails to translate into sufficient revenue.

The veteran actor’s experience underscores the uncertainty surrounding cinema investments and the financial consequences filmmakers and their investors may face when a movie fails to perform as expected.