Jide Kosoko says he’s in debt after his N300m film failed to make a profit at the cinema
Jide Kosoko says he’s in debt after his N300m film failed to make a profit at the cinema
Jide Kosoko says he is in debt after his film ‘Eleko: Oba Esugbayi’ failed to recoup its production cost of over N300 million at the cinemas.
In a recent interview on African A-List, the ace Nigerian actor said the money used to produce the film came from investors who expected returns on their investment.
The filmmaker disclosed that the movie did not generate enough revenue to recover its production cost, and the little earned was shared among those involved.
“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.
“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.”
Kosoko’s revelation comes weeks after actor Ramsey Nouah said taking a film to the cinema is not always a sound financial decision.
Nouah said only a tiny fraction of films released in cinemas ever recoup their production costs and turn a profit.
He added that many producers fail to recover their capital even after spending heavily on advertising and promotion.
Copyright 2026 TheCable. All rights reserved. This material, and other digital content on this website, may not be reproduced, published, broadcast, rewritten or redistributed in whole or in part without prior express written permission from TheCable.
Follow us on twitter @Thecablestyle
Tags:Jide Kosoko
Davido, Seyi Vibez, Victony… artistes who’ve submitted entries for 2027 Grammy Awards consideration
Ruger
I’m getting married this year, says Ruger
February 24, 2025
BBNaija stars, Khafi and Gedoni, welcome first child together
August 22, 2021
Ahmed claims Wizkid ‘yet to give me N10m, music deal’ since 2017
Ahmed claims Wizkid ‘yet to give me N10m, music deal’ since 2017
January 11, 2022
Hanan Buhari to wed Fashola’s special adviser
Hanan Buhari to wed Fashola’s special adviser
August 27, 2020
Advertisement
FacebookLike
TwitterFollow
GoogleLike
Most Visited
RMD
RMD, theatre veterans to reunite for 40th anniversary of AJOFEST ’86
October 18, 2026
‘I won’t let it slide’ — Laide Bakare fumes over Eniola Badmus’ reaction to her name
October 19, 2026
Headies founder calls out Nigerian artistes for ‘snubbing own awards,’ chasing Grammys
October 15, 2026
Do2dtun, Headies founder
‘Have you seen Grammys leave US’ | ‘Hypocrite’ — Do2dtun, Animashaun clash over Headies Canada move
October 16, 2026
Frontpage About Us Contact Us Terms of Use Privacy Policy Comment Policy
© 2021 ALL RIGHTS RESERVED – THECABLE NEWSPAPER
Advertisement
