Veteran Nollywood actor and filmmaker Jide Kosoko has revealed that he is facing debt after his movie, Eleko: Oba Esugbayi, failed to recover its production cost of more than ₦300 million following its cinema release.

Kosoko made the disclosure during an interview on the African A-List podcast, where he explained that the film was financed by investors who expected to earn returns from the project.

According to the veteran actor, the movie’s cinema performance fell short of expectations, leaving the production team unable to recoup the money invested in it.

He stressed that the funding was not a personal gift but an investment that came with financial expectations.

“My film Eleko: Oba Esugbayi, that recently came out and we took to the cinemas, cost us over ₦300 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,” Kosoko said.

He further explained that the limited revenue generated from the cinema run was shared among those involved, leaving the investors and other parties without a full return on their investment.

“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,” he added.

Kosoko’s disclosure highlights the financial pressure that can accompany big-budget film productions, particularly when filmmakers depend on cinema revenue to recover production expenses and repay investors.

Although a film may require substantial spending on production, distribution and promotion, its commercial performance is not guaranteed. When ticket sales fall below expectations, producers and investors may struggle to recover their capital.

The experience described by Kosoko also draws attention to the financial risks faced by Nigerian filmmakers seeking to take ambitious projects to the cinema, where box-office earnings are influenced by audience turnout, distribution arrangements and other market factors.

His comments come amid wider discussions in Nollywood about the cost of filmmaking and the difficulty of turning expensive productions into profitable cinema releases.

Fellow actor and filmmaker Ramsey Nouah has also reportedly spoken about the challenges associated with cinema releases, including the possibility that productions may fail to recover their costs despite significant spending on promotion.

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Kosoko’s account underscores the importance of realistic budgeting, effective distribution strategies and carefully structured investment arrangements in an industry where high production costs do not necessarily translate into commercial success.