Jide Kosoko reveals N300m Cinema loss, says film failed to recoup investment

By Anuoluwa Amao

Veteran Nollywood actor Jide Kosoko has disclosed that he suffered major financial losses after spending more than N300 million to produce and release his film, Leko Esu Gbayi, in cinemas.

Speaking during an interview, Kosoko said the project was funded by investors who expected returns but failed to recover their investment after the film’s cinema release.

Reacting to the amount involved, the interviewer sought clarification, prompting the actor to explain that the funding was a business arrangement rather than a personal gift.

“They did business, and we took the film to the cinema. Different things happened,” he said.

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Kosoko admitted that the film did not generate enough revenue to cover the production and release costs, while the little money earned was shared among those involved.

“We didn’t earn our money, and the little we earned was split,” he lamented.

The actor used humour to describe his financial situation, joking that he could be the person dancing despite being in debt. He later clarified that his predicament was not exactly about owing money.

According to Kosoko, everyone who worked on the production had been paid, but the project failed to deliver the financial returns he and his investors had anticipated. He added that the outcome remained a source of concern for him.

When asked about the cinema earnings and their distribution, Kosoko acknowledged the substantial investments made by cinema operators, although his explanation on the matter was not fully captured in the available account