Veteran Nollywood actor Jide Kosoko has disclosed that he lost more than ₦300 million after investing in a cinema film that failed to recover its production costs.
Kosoko made this known during an appearance on the African A List podcast, which aired on Saturday, October 17.
According to the actor, the money invested in the project was not entirely his, as several people contributed funds to support the production.
However, the film's earnings fell short of the amount spent, leaving the project unable to break even.
Kosoko explained that the revenue generated was shared among those involved in the production, leaving him without enough funds to repay those who had backed the project financially.
The revelation highlights the financial risks filmmakers face when producing cinema releases, where high production costs do not always translate into strong box office returns.
Kosoko is one of Nollywood's veteran actors, with a career spanning several decades across Yoruba and English-language films. Beyond acting, he has also worked as a filmmaker and director.
Among his notable projects is Eleko, which tells the story of Oba Esugbayi Eleko and his resistance to British colonial rule in Lagos.
His account has also drawn attention to the financial pressures associated with filmmaking in Nigeria, particularly the challenge of recovering production investments when a movie underperforms commercially. @Oluwabukolami
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