Jide Kosoko Opens Up On Incurring Debt Over N300 Million Movie

Veteran actor Jide Kosoko has candidly opened up about the financial hurdles he faced while producing his recent cinema movie, 'Eleko: Oba Esugbayi', revealing that the project left him in debt.

Speaking in a recent interview on the African A-List, the actor disclosed that the film cost him and his investors over N300 million.

Kosoko clarified that he did not fund the film from his personal pocket. He explained that the money came from individuals who believed in the project and chose to invest rather than simply gift him the funds.

According to him, despite the massive investment and taking the movie to the cinemas, the returns fell short of expectations, leading to significant financial losses. He noted that the little profit made had to be shared among the parties involved.

Reflecting on the heavy burden the failed box office run has placed on him, the veteran actor described himself as someone carrying a heavy debt around his neck.

He said:
"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."

"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."