Jide Kosoko Recounts Financial Ordeal After N300m Investment in Cinema Movie
- Veteran Nollywood actor Jide Kosoko disclosed a painful financial experience tied to a cinema production he bankrolled
- The actor said the funds came from supporters who contributed towards the film, which struggled to make returns at the box office
- Jide Kosoko opened up about the ordeal during an interview on the African A List podcast
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Veteran Nollywood actor Jide Kosoko has opened up about a crippling financial loss he suffered after pouring more than N300 million into a cinema film that could not recoup its production costs.
The actor made the revelation during an appearance on the African A List podcast, which aired on Saturday, 17 October. Speaking candidly about the experience, Kosoko said the funds were not entirely his own but were contributed by people who believed in the project and chose to back it financially.
Source: Instagram
Despite that support, the film failed to generate sufficient box office revenue to cover what had been spent. Whatever income it did pull in was divided among those who worked on the project, leaving Kosoko without enough to repay his backers.
"I spent over 300 million naira on a cinema movie, money that people contributed for me and I ended up in debt, we didn't earn back the money, the little we earned was split too," he said.
Jide Kosoko's career in Nollywood
Kosoko is one of the most recognisable figures in the Nigerian film industry, having built a career spanning several decades across Yoruba and English language productions as an actor, filmmaker and director.
He has also been involved in historically significant projects, among them Eleko, a film that chronicles the story of Oba Esugbayi Eleko and his stand against British colonial rule in Lagos.
His admission shines a light on the financial risks that come with producing cinema-scale films in Nigeria, a conversation that quickly caught fire on social media.
Source: Instagram
In related news, Legit.ng reported that Jide Kosoko opened up about opposition from Islamic clerics against his movie.
Watch Jide Kosoko open up about debt after investing in a cinema movie below:
What people said about Jide Kosoko's confession
Legit.ng captured some of the reactions that trailed the confession on Twitter. Read them below:
@Tehila_O wrote:
"No wonder your support for Tinubu is deep. All for the national cake! Hmm! E pele sir."
@maybatch300 commented:
"Doing cinema isn't for everyone but they won't listen half the movies in the cinema don't deserve to be."
@Elijahokiri23 said:
"dem dey tell una money no too dey cinema movies una no dey hear."
@JagzLife47 reacted:
"Then you guys should stop making cinema movies nah! Not by force especially if you're being cast in most top top cinema projects. You see Oga Bello talk say he wan do cinema movie nii abii Yinka Quadri?"
@levelz202 wrote:
"Money no too de cinema movie. Na wetin dem de try tell una be dat."
Jide Kosoko speaks about Toyin Abraham
Meanwhile, Legit.ng previously reported that Jide Kosoko shared his candid take about actress Toyin Abraham's acting prowess.
He called her one of the industry's most versatile performers, though his comments came with a notable caveat that has fans talking.
Drawing on his decades of experience in the Nollywood industry, the seasoned actor also characterised her as "very stubborn" on set, a quality he framed as a sign of her deep passion for the craft.
Source: Legit.ng
