Veteran Nollywood actor Jide Kosoko has revealed that despite spending over 60 years in the Nigerian film industry, he has not amassed significant wealth.
Speaking on The Honest Bunch podcast, the 71-year-old actor explained that while he lives comfortably, he does not consider himself rich by Nigerian standards.
“I have been in this industry for decades. I thank God that I can afford three square meals. But can I say I am a rich man in Nigeria? No,” he stated.
Piracy and its damage to Nollywood
Kosoko pointed to piracy as one of the biggest threats to the Nigerian movie industry. He urged the government to impose stricter penalties on those who profit from illegally distributing films.
“The punishment for piracy under the current copyright law is too weak,” he said. “Some of these pirates have made billions from stealing creative works. If you fine them N500 million, they can easily pay from what they have already made.”
He argued that only severe jail sentences could stop piracy. “If a 20-year prison term with no option of a fine is attached to piracy, people will think twice before engaging in it,” he added.
For years, Nollywood has suffered massive financial losses due to piracy. Many actors and producers struggle to earn fair compensation for their work because illegal copies of films flood the market soon after release.
A lifetime in the movie industry
Kosoko’s journey in entertainment started early. He began acting as a child in 1964 when he appeared in the television production Makanjuola.
Over the years, he has starred in hundreds of Nollywood films, performing in both English and Yoruba movies. His contributions to the industry have made him one of Nigeria’s most respected actors.
Despite his fame and experience, Kosoko’s statement reflects the financial struggles many Nollywood actors face. Unlike Hollywood, where actors can earn millions from films, Nollywood performers often deal with lower pay and limited financial security.
The reality of Nollywood earnings
The veteran actor’s revelation sheds light on a growing concern in Nigeria’s entertainment sector. Many actors, directors, and producers struggle to make sustainable incomes despite the industry’s massive output.
Nollywood ranks among the world’s largest film industries, producing thousands of movies annually. However, the financial rewards do not always match the industry’s success. Limited funding, low cinema ticket prices, and widespread piracy hinder many filmmakers from earning what they deserve.
Kosoko’s concerns about piracy echo the frustrations of many Nollywood professionals. While streaming platforms have provided some relief, illegal distribution remains a serious problem.
Calls for stronger copyright laws
Industry experts agree that stricter copyright laws are necessary to protect Nigerian filmmakers. Without stronger legal action, piracy will continue to undermine the hard work of actors, producers, and directors.
Kosoko’s call for tougher penalties adds to the ongoing conversation about Nollywood’s financial future. As the industry grows, addressing these issues will be key to ensuring that actors receive fair compensation for their work.
The veteran actor’s words serve as a reminder that fame does not always equal fortune. While Nollywood has brought him recognition, financial security remains a challenge — not just for him, but for many in the industry.
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