Veteran Nollywood actor Jide Kosoko has disclosed that despite spending 60 years in the film industry, he is not a wealthy man.
During an appearance on The Honest Bunch podcast, the 71-year-old actor clarified that while he lives comfortably and can afford basic necessities, he does not consider himself rich by Nigerian standards.
“I have been in this industry for decades, and I am grateful that I can afford three square meals. But can I confidently say I am wealthy by Nigerian standards? No,” he remarked.
Kosoko pointed to piracy as a major factor contributing to the financial struggles faced by many Nollywood veterans, stating that it has severely impacted the industry’s revenue.
He advocated for stricter penalties against piracy, arguing that existing copyright laws are too lenient to be effective.
“The current punishment for piracy in copyright laws is still too weak, in my opinion. A person who has been pirating creative works for years has likely become a billionaire, so how much can you fine him?
“Even if you impose a N500 million fine, he can easily pay from his illegal earnings. But if a 20-year jail term is attached to piracy without an option of a fine, people will think twice before engaging in it,” he asserted.
Having begun his acting career as a child in 1964 with the television production Makanjuola, Kosoko has featured in countless Nollywood films in both Yoruba and English.
Despite his significant contributions to the industry, he believes that poor industry structures and widespread piracy continue to prevent actors from achieving financial stability.