‘I am not rich despite 60 years in Nollywood’ – Actor Jide Kosoko reveals

Veteran Nollywood actor Jide Kosoko has opened up about his financial status, revealing that despite his six-decade-long career in the Nigerian film industry, he does not consider himself wealthy.  

Speaking on The Honest Bunch podcast, the 71-year-old actor explained that while he can afford his basic needs, his earnings do not place him among Nigeria’s rich elite.

“I have been in this [movie] industry for this long. I thank God that I can eat three square meals. But can I say I am a rich man by Nigerian standards? No,” Kosoko stated.

He attributed the financial struggles of Nollywood veterans to widespread piracy, which he believes has significantly hindered the industry’s revenue.

He further called for stricter copyright laws, arguing that current penalties for piracy are too lenient and fail to protect the creative industry from financial losses.

“The punishment in the copyright law for piracy is still not strong enough as far as I am concerned. Somebody who has been pirating people’s works for years is a billionaire, so how much do you want to fine him?

“Fine him N500 million, and he will just bring it out of what he has sold. But if you attach a 20-year jail sentence to it with no option of a fine, people will refrain from piracy,” he said.

Kosoko, who began his acting career as a child in 1964 with the television production Makanjuola, has starred in hundreds of Nollywood films in both English and Yoruba.

Despite his long-standing contribution to the industry, he believes that inadequate structures and piracy continue to hinder actors from attaining financial success.