“I’m still not rich after 60 years in Nollywood” – Jide Kosoko

Veteran Nollywood actor Jide Kosoko has revealed that despite his 60-year-long career in the industry, he is not rich.

Speaking on The Honest Bunch podcast, the 71-year-old actor explained that while he is comfortable and able to afford basic necessities, he does not classify himself as a wealthy man by Nigerian standards.

“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,” he stated.

Kosoko attributed the financial struggles of many Nollywood veterans to piracy, which he believes has significantly affected the industry’s revenue.

He called for stricter penalties to combat the menace, arguing that current copyright laws are too lenient.

“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.