Jide Kosoko Movie Loss: N300m Eleko Flop Exposes Nollywood Cinema Business and Film Investment Nigeria Risks

Veteran Nollywood actor Jide Kosoko has opened up about a big Jide Kosoko movie loss that has left him in debt.

His film Eleko: Oba Esugbayi cost over N300 million to produce. The money was not his personal money. Investors gave it to him expecting to make profit. But the film did not make that money back in cinemas.

Speaking in an interview with African A-List on October 17, Kosoko said: "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."

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."

The film is his first cinema production. It premiered on March 14, 2026 and entered cinemas on March 20, 2026 for Sallah and Easter. It tells the story of Oba Esugbayi Eleko, the Lagos king who resisted British colonial rule. It stars Femi Branch as Esugbayi, plus Femi Adebayo, Saidi Balogun and Dele Odule.

In very plain numbers, here is what happened:

• Cost to make film: over N300 million
• Money made in first weekend: about N18.3 million according to Kosoko himself, and N17.7 million according to box office data
• Total money made till October 20, 2026: about N47.1 million

So out of N300 million spent, only about N47 million came back from ticket sales. And that N47 million is not even full profit.

Why cinema returns can disappoint in Nollywood cinema business

In Nollywood cinema business, cinema ticket money is shared. Cinema owners take about 50-60% for their hall, light, staff and huge investment. Distributors like Genesis Pictures who took Eleko to cinemas take another percentage. Then tax and VAT are removed. So if a film makes N47 million at the box office, the producer may go home with less than N20 million.

Ramsey Nouah said recently that only a tiny fraction of Nollywood films that go to cinemas ever recover their cost. You still pay for posters, trailers, premiere, and influencers on top of production.

Kosoko himself said: "I won't deceive anyone, but truly, those who own the cinemas have huge investments."

What this says about film investment Nigeria

This case shows film investment Nigeria is high risk. A film is not like buying land. You can spend N300 million and make N47 million. The story may be good, the history important, but if people don't buy tickets, you lose.

It also shows that investors need to know the risk. Kosoko said his investors invested, they did not dash him money. Now he has to explain why returns did not come.

For new filmmakers, the lesson is simple: budget for marketing, have a second plan for streaming and TV, and don't expect cinema alone to save you.