El-Rufai warns: Nigeria faces collapse by 2026 in bold forecast

El-Rufai Shares Grim Economic Forecast, Warns of Potential Collapse by 2026

Former Kaduna State governor, Mallam Nasir El-Rufai, has sounded the alarm over Nigeria’s economic trajectory, citing a new analysis that predicts a potential financial collapse by 2026 if decisive action isn’t taken soon.

On Friday, El-Rufai posted an article titled “Nigeria 2026: The Year All Hell Breaks Loose” on his official X (formerly Twitter) account.

The piece, authored by Dr. Nnaoke Ufere, employs machine learning tools and economic simulations to predict a possible systemic breakdown of Nigeria’s economy by September 2026.

El-Rufai Urges Legislative Action as Report Predicts Severe Economic Crisis by 2026

Former Kaduna State governor, Nasir El-Rufai, has called on Nigerians to escalate a newly released economic warning by sharing it with members of the National and State Assemblies, stressing the need for urgent intervention.

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The article, which El-Rufai shared on his official X handle, projects a 75% likelihood of Nigeria plunging into a major debt crisis by 2026. The analysis warns of a possible default on foreign loans, a collapse of the naira, and a breakdown of the country’s banking system.

It further anticipates a downgrade of Nigeria’s sovereign credit rating to junk status—potentially triggering creditor panic, demands for immediate repayment, and a freeze in external financing.

The report paints a grim picture, suggesting that institutions such as the IMF and World Bank may be unable to act swiftly enough to avert disaster. If oil shipments—Nigeria’s primary revenue source—are seized by creditors, it could cripple government income, leaving states unable to pay salaries or deliver basic services.

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In response to the looming fiscal shortfall, the Central Bank of Nigeria may resort to unchecked money printing, a move the report warns could ignite hyperinflation and deepen economic distress.

Other predicted outcomes include shortages of food, fuel, and medicine; collapse of public services and infrastructure; a breakdown in law enforcement; and a spike in insecurity and civil unrest.

“This isn’t alarmism,” the report states. “It’s a credible warning based on thorough analysis and detailed scenario modeling.”