Veteran actor and filmmaker Jide Kosoko has disclosed that he is currently battling debt after his latest movie, Eleko: Oba Esugbayi, failed to perform as expected at the box office.
Kosoko made the revelation in a viral clip from his interview with African A-List, published on YouTube.
The historical film, which premiered in cinemas in March, reportedly cost more than N300 million to produce, with funding provided by investors.
Speaking during the interview, the actor explained that the money used for the project was not a personal gift but an investment from individuals who expected returns from the film.
“My film ‘Eleko: Oba Esugbayi’ that recently came out and we took to the cinemas, cost us over N300 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,” he said.
He noted that the movie failed to generate enough revenue to recover its production expenses, adding that the limited earnings were shared among the stakeholders involved in the project.
“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,” Kosoko added.
The disclosure comes days after The Nation reported that the actor had been living with diabetes since 1996.
During the same interview, the 72-year-old filmmaker spoke about managing the condition over the years, saying his long experience had given him a better understanding of his health.
“I became diabetic in 1996; I understand my health better than some doctors do. Do not misquote me. I am not saying I know how to do everything; I just do not want to die,” he said.
Kosoko also opened up about personal tragedies, revealing that he had lost three wives, including the mother of his daughter, Nollywood actress Bidemi Kosoko, who died during childbirth.
“I lost my wife during childbirth; that’s Bidemi’s mother. I have lost three wives,” he stated.
Eleko: Oba Esugbayi chronicles the life of Oba Esugbayi Eleko, a former monarch of Lagos, and features several prominent Nollywood actors.