Kosoko disclosed the financial setback during an interview on the African A List podcast, explaining that the money used to finance the film came from investors who expected returns rather than donations.
According to the actor, the movie did not generate enough revenue at the box office to cover its production expenses. The limited earnings were shared among those involved in the project, leaving insufficient funds to repay the investment.
Kosoko said the experience had left him struggling with debt despite the considerable resources committed to the production.
The film, Eleko: Oba Esugbayi, tells the story of Oba Esugbayi Eleko, a former ruler of Lagos known for his resistance to British colonial authorities. The project formed part of Kosoko’s work in bringing Nigerian history and cultural heritage to the screen.
His disclosure has renewed discussion about the financial risks of cinema releases in Nigeria, where high production costs do not guarantee box-office success.
The experience also highlights the pressure on filmmakers who rely on private investors to finance ambitious productions. When cinema revenue falls short of expectations, producers may struggle to recover their costs and meet their financial obligations.
Kosoko’s account underscores the importance of careful budgeting, distribution planning and realistic revenue expectations in the film industry.
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Veteran Nollywood actor and filmmaker Jide Kosoko says his historical film, Eleko: Oba Esugbayi, failed to recover its production cost of more than ₦300 million at the cinema, leaving him in debt to investors. Veteran Nollywood actor and filmmaker Jide Kosoko has revealed that he is in debt after his historical movie, Eleko: Oba Esugbayi, failed to recover...
Key takeaways
- Veteran Nollywood actor and filmmaker Jide Kosoko says his historical film, Eleko: Oba Esugbayi, failed to recover its production cost of more than ₦300 million at the cinema, leaving him in debt to investors.
- Veteran Nollywood actor and filmmaker Jide Kosoko has revealed that he is in debt after his historical movie, Eleko: Oba Esugbayi, failed to recover its production cost of more than ₦300 million following its cinema release.Kosoko disclosed the financial setback during an interview on the African A List podcast, explaining that the money used to finance the film came from investors who expected returns rather than donations.According to the actor, the movie did not generate enough revenue at the box office to cover its production expenses.
- The limited earnings were shared among those involved in the project, leaving insufficient funds to repay the investment.Kosoko said the experience had left him struggling with debt despite the considerable resources committed to the production.The film, Eleko: Oba Esugbayi, tells the story of Oba Esugbayi Eleko, a former ruler of Lagos known for his resistance to British colonial authorities.
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What is this story about?
Veteran Nollywood actor and filmmaker Jide Kosoko says his historical film, Eleko: Oba Esugbayi, failed to recover its production cost of more than ₦300 million at the cinema, leaving him in debt to investors. Veteran Nollywood actor and filmmaker Jide Kosoko has revealed that he is in debt after his historical movie, Eleko: Oba Esugbayi, failed to recover...
Who published this story?
Glow 99.1 FM published this story with GlowRy Atuah listed as author.
When was it published?
October 23, 2026
