Veteran Nollywood actor and filmmaker, Jide Kosoko, says he has been left in debt after his movie, Eleko: Oba Esugbayi, failed to generate enough revenue to recover its production cost of more than 300 million naira.
Kosoko made the disclosure during an interview with newsmen where he explained that the money used to produce the historical film came from investors who expected returns on their investment.
The actor said the funds were not gifts, stressing that those who supported the project expected to recover their money from the film’s cinema earnings.
According to reports, the movie was released in cinemas in March 2026 but did not generate enough revenue to cover its production expenses.
The little money earned was shared among those involved in the project.
Kosoko explained that several factors affected the film’s financial performance, leaving the production unable to recoup the investment.
He admitted that he was now struggling with the debt arising from the project, describing the experience as a difficult financial setback.
The film, Eleko: Oba Esugbayi, tells the story of the Lagos monarch, Oba Esugbayi Eleko, who resisted British colonial rule in the early twentieth century.
The movie features several Nollywood actors, including Femi Branch, Femi Adebayo, Saidi Balogun, Dele Odule and Yinka Quadri.
Kosoko’s disclosure highlights the financial risks associated with taking Nigerian films to cinemas, where high production costs do not always translate into sufficient box-office earnings.
