“Act Now or Face Collapse”: El-Rufai Raises Alarm Over Nigeria’s Economic Future

Former Kaduna State governor, Nasir El-Rufai, has raised concerns about Nigeria’s economic future, warning that the country could face a major financial collapse by 2026 if urgent action isn't taken.

Taking to his official X (formerly Twitter) account on Friday, El-Rufai shared a sobering article titled “Nigeria 2026: The Year All Hell Breaks Loose”, written by economic analyst Dr. Nnaoke Ufere. The article uses advanced machine learning models and economic simulations to forecast a looming crisis that could hit the country as early as September 2026.

According to the report, Nigeria is at a 75% risk of falling into a full-blown debt crisis, which could include:

Defaulting on foreign loans

A total crash of the naira

Banking system collapse

Hyperinflation

Massive public service failures

The piece warns that international financial institutions like the World Bank and IMF may not be able to step in quickly enough to prevent disaster. With Nigeria’s heavy reliance on oil revenue, even a seizure of oil shipments by creditors could cripple federal and state budgets, leaving salaries unpaid and essential services in ruins.

It also raises the alarm that the Central Bank of Nigeria (CBN) may resort to excessive printing of money to fill funding gaps—an act that would fuel inflation, make food and medicine scarce, and worsen poverty and insecurity nationwide.

El-Rufai urged Nigerians to take the warning seriously, calling on citizens to share the article with members of the National Assembly and State Houses of Assembly as a wake-up call.

“This is not speculation or fearmongering,” the article concludes. “It’s a clear and present danger grounded in rigorous analysis.”

As Nigeria faces mounting economic pressure, El-Rufai’s warning is a sharp reminder of the urgent need for reforms to avoid a national catastrophe.