Jide Kosoko Opens Up: Fame Doesn’t Equal Fortune in Nollywood
Veteran Nollywood actor Jide Kosoko has revealed that despite his six decades of experience in the Nigerian movie industry, he does not consider himself a rich man. Speaking on The Honest Bunch podcast, the 71-year-old actor stated that while he is comfortable enough to afford basic needs, he hasn’t attained the kind of wealth people might expect from a star of his caliber.
“I have been in this [movie] industry for this long. I thank God that I can eat three square meals. But can I claim to be a rich man by Nigerian standards? No,” Kosoko said.
Piracy: The Silent Killer of Nollywood Wealth
Kosoko highlighted piracy as one of the biggest setbacks for Nollywood actors, making it difficult for them to reap the financial rewards of their hard work. He believes that the current penalties for piracy are too lenient and suggested that stricter laws could help combat the problem.
“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.”
Opinion: Why Are Many Nollywood Legends Not Wealthy?
Jide Kosoko’s revelation is a stark reminder of the struggles faced by veteran Nollywood actors. Many have spent their lives entertaining audiences, yet only a handful attain true financial security. The reasons are clear:
Piracy Drains Profits – When movies are illegally distributed, actors and filmmakers lose out on earnings.
Lack of Residual Income – Unlike Hollywood, Nollywood actors rarely get royalties from past projects.
Limited Investment Culture – Many veteran actors focused solely on their craft without diversifying their income sources.
The Need for Change
Kosoko’s call for stricter piracy laws should be taken seriously. If Nollywood is to fully thrive, industry stakeholders must push for better legal protections and create financial support structures for veteran actors.
What do you think? Should Nollywood adopt a royalty system to better support its actors, or is piracy the bigger issue? Let’s discuss! 👇
