Veteran Nollywood actor and filmmaker Jide Kosoko has said he is in debt after his film, Eleko: Oba Esugbayi, failed to recoup its production cost of over N300m in cinemas
Kosoko disclosed this in a now trending clip from his interview on African A-List published on October 17, where he explained that the money used to produce the film came from investors who expected returns on their investment.
According to him, the film which premiered in the cinemas in March, failed to generate enough revenue to recover its production cost, while the little money earned was shared among those involved.
“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 added, “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.”
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