Jide Kosoko faces debt after ₦300 million film fails to recoup costs

Veteran Nollywood actor and filmmaker Jide Kosoko has disclosed that he is facing significant debt following the commercial failure of his historical film, ‘Eleko: Oba Esugbayi’. The production, which cost over ₦300 million, failed to generate sufficient cinema revenue to recover its initial investment.

Speaking during an interview on the African A-List programme, Kosoko explained that the film was financed by investors expecting returns rather than personal donations. He noted that the limited revenue generated during its cinema run was distributed among those involved, leaving him with outstanding financial obligations to the capital providers.

The film, produced under the Jide Kosoko Film Presentation banner, is a historical drama centered on Oba Esugbayi Eleko, the former Oba of Lagos, and his resistance to British colonial rule. Despite featuring established actors such as Femi Branch and Femi Adebayo, reports indicate the film's opening weekend earnings were approximately ₦18.3 million, falling significantly short of the production budget.