Jide Kosoko Faces Debt After Film "Eleko" Flops

Veteran Nollywood actor and filmmaker Jide Kosoko disclosed that he is in debt following the poor financial performance of his film "Eleko: Oba Esugbayi," which cost over N300 million to produce. In an interview with African A-List published on October 17, Kosoko explained that the funds came from investors who expected returns, not as personal donations.

The film premiered in cinemas in March but did not generate sufficient revenue to cover its production expenses. Kosoko stated that the limited earnings were divided among those involved in the project, leaving investors unable to recover their full investment.

He mentioned that various factors contributed to the film's underperformance, and he emphasized the financial risks associated with film production in Nollywood. Kosoko did not specify the amount of debt he currently owes or the exact reasons for the film's failure to perform financially.