Jide Kosoko Faces Debt After ₦300 Million Film Flop

Veteran Nollywood actor and filmmaker Jide Kosoko disclosed that he is in debt following the poor performance of his film, which had a production cost exceeding ₦300 million. In an interview on the African A-List podcast, Kosoko explained that the funds were sourced from investors who anticipated returns.

The film, which premiered on March 14, 2026, and opened in cinemas on March 20, was timed for the Sallah and Easter holiday season. It is Kosoko's debut cinema production and narrates the story of Oba Esugbayi Eleko, a Lagos monarch who opposed British colonial rule in the early 20th century.

The film features actors such as Femi Branch, Femi Adebayo, Saidi Balogun, Dele Odule, and Yinka Quadri, and was distributed by Genesis Pictures. After its release, Kosoko reported on Instagram that the film grossed about ₦18.3 million during its opening weekend.

His comments came shortly after Ramsey Nouah remarked on the financial risks associated with cinema releases, noting that many films do not recover their production costs.