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El-Rufai shares ‘economic forecast’ predicting Nigeria’s collapse in 2026

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Former Kaduna State governor, Mallam Nasir El-Rufai on Thursday shared a dire economic projection for Nigeria, warning of an impending financial collapse in 2026 if urgent measures are not taken.

El-Rufai posted the article, titled ‘Nigeria 2026: The Year All Hell Breaks Loose’ on his official X handle on Friday.

The analysis, authored by Dr. Nnaoke Ufere, utilized machine learning models and economic simulations to forecast a possible breakdown of Nigeria’s economy by September 2026.

El-Rufai said Nigerians should take action now by sharing the article with members of the national and state assemblies.

According to the report, there is a 75 percent probability that Nigeria could spiral into a full-blown debt crisis, leading to a default on external obligations, a crash of the naira, and collapse of the banking system.

The forecast anticipates that Nigeria’s sovereign credit rating will be downgraded to junk status, triggering demands for immediate repayment from creditors and effectively cutting off access to external funding.

The article also warns that multilateral institutions like the World Bank and IMF, as well as bilateral lenders, may not respond swiftly enough to prevent a collapse, leaving the country in economic paralysis.

It further predicts that government revenues will be severely disrupted, especially if creditors seize oil shipment, Nigeria’s primary source of income, leading to states being unable to pay salaries or provide basic services.

The article went further to predict that in response to the funding shortfall, the Central Bank of Nigeria, CBN, may resort to excessive money printing, triggering hyperinflation and widespread economic hardship.

The projection also anticipates shortages of food, fuel and medicine, collapse of public infrastructure, and breakdown of law enforcement—paving the way for increased insecurity and unrest across the country.

“This is not speculation or alarmism,” the report warns. “It is a clear and present danger based on rigorous analysis and robust scenario simulations.”

https://x.com/elrufai/status/1951267212683084144?t=jVIwonL0_BnhmpPkceroPQ&s=19

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EFCC Files Charge Against Ngige, Ex-Minister To Be Arraigned On Friday

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Ngige is accused of using his position to confer undue advantage by awarding different contracts to his associates.

The Economic and Financial Crimes Commission (EFCC) has filed an eight count charge against the former Minister of Labour and Productivity, Chris Ngige.

Channels Television’s judiciary correspondent, Shola Soyele who obtained a copy of the charge reports that the former minister will be arraigned on Friday at the FCT High Court in Gwarimpa, Abuja.

In the charge dated Oct 31st and filed by Senior Advocate of Nigeria, Sylvanus Tahir and five other lawyers on behalf of the EFCC, the anti-graft agency alleged that Ngige used his position as a former minister to confer undue advantage by awarding different contracts to his associates and different companies believed to be owned by him.

In count 1, the former minister, between September 2015 and May 2023, while being the supervising Minister of the Nigeria Social Insurance Trust Fund (NSITF), used his position to confer an unfair advantage upon Cezimo Nigeria Limited, a company whose MD/CEO and alter ego, Ezebinwa Amarachukwu Charles is believed to be his associate.

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Fubara sent his attack dogs against us, he is failing – Rivers Speaker, Amaewhule

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The Speaker of the Rivers State House of Assembly, Martins Amaewhule, has chided the state governor, Siminalayi Fubara, describing him as a failed leader.

Amaewhule made the remark on Thursday at a press conference in Port Harcourt while addressing the governor’s recent outbursts.

Fubara, who spoke at an event on Wednesday, claimed that he had made efforts to meet with the lawmakers but was waiting for party leaders to convene the agreed reconciliation meeting.

His comment followed the renewed face-off between him and members of the Assembly loyal to the Minister of the Federal Capital Territory (FCT), Nyesom Wike.

Addressing the governor’s claims, Amaewhule told journalists that there has been a series of meetings with the governor, alleging that the governor is deliberately undermining the Assembly.

He accused the governor of sending attack dogs to insult members of the Assembly on social media and radio stations.

The Speaker said, “At the moment, the governor is failing; he doesn’t want to be a leader. A leader would want to bring people together and make peace.

“The outburst yesterday doesn’t show leadership at all. Disparaging the FCT Minister is not leadership at all. Sending his attack dogs, all those his media thugs, to insult us on social media is not helping the governor.

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Oyebamiji To Emerge Osun APC Consensus Gubernatorial Candidate

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An aspirant for the Osun State Governorship Election, Bola Oyebamiji is set to become the consensus candidate of the All Progressives Congress (APC).

According to The Nation, the hint on the plan by the party to adopt the consensus option was dropped after Tuesday night’s meeting of the aspirants with President Bola Ahmed Tinubu at Aso Villa.

Oyebamiji, popularly known as AMBO, is a former Finance Commissioner, who served for eight years in two APC administrations.

Many of the disqualified aspirants pledged to support the consensus plan ahead of the party’s primary scheduled for Saturday.

The potential consensus candidate will face the Accord Party candidate, Governor Ademola Adeleke, and African Democratic Congress (ADC) likely candidate, Dr. Najeem Salam, in next year’s poll.

The APC also adopted a consensus for the Ekiti primary that produced Governor Biodun Oyebanji as candidate for next year’s election.

Discussions between the President and the eight aspirants at the meeting focused on how to prevent post-primary crisis that could herald failure at the poll.

According to a statement by the Special Adviser to the President on Information and Strategy, Bayo Onanuga, the meeting was attended by former Deputy Governor Benedict Olugboyega Alabi, Dotun Babayemi, Akin Ogunbiyi, Senator Babajide Omoworare, Kunle Adegoke (SAN), Babatunde Harater Oralusi, Mulikat Abiola Jimoh and Munirudeen Bola Oyebamiji.

Also at the parley were APC National Chairman, Prof. Nentawe Yilwatda; Secretary to the Government of the Federation, Senator George Akume; Chairman of the Progressive Governors’ Forum, Governor Hope Uzodimma; and Minister of Marine and Blue Economy, Adegboyega Oyetola.

President Tinubu, who praised all the aspirants for their contributions to the APC in Osun State, urged them to close ranks and support the consensus candidate the party will present for the governorship election in the state. He also advised them to avoid the internal bickering and disunity that caused the party to lose the last election in the state to the Peoples Democratic Party.

While harping on the importance of party supremacy, President Tinubu charged the aspirants to allow it to prevail in choosing the flagbearer, noting that only the party can benefit from it when it wins elections.

“You all have a duty and obligation to the party by ensuring the candidate of our party wins the next election in Osun State. You must strengthen the bonds of unity, party supremacy and collective responsibility. I have absolute confidence in your ability to deliver victory to our party in Osun State. You have my support and that of the National leadership of APC to win the coming election,” Tinubu assured.

At the end of the meeting, a joint statement was issued in which the aspirants and the leaders committed to support the candidate who would emerge at the primary.

Here is the statement signed by all the aspirants and the APC leaders:

“We, the undersigned aspirants for the 2025 Osun State Governorship Election under the platform of the All Progressives Congress (APC), having met and deliberated in the presence of His Excellency, President Bola Ahmed Tinubu, GCFR, and the National Chairman of the APC, Prof. Nentawe Yilwatda, and in the spirit of unity, discipline, and loyalty to our great party, hereby declare as follows:

  1. That we affirm and uphold the supremacy of the All Progressives Congress (APC) in guiding and determining the most appropriate process for selecting the party’s flag bearer for the 2025 Governorship Election in Osun State.
  2. That we unanimously agree to abide by the party’s decision to nominate a consensus candidate for affirmation at the APC Primary Election scheduled for Saturday, 13th December 2025.
  3. That we accept the outcome of the party-led nomination process in good faith, and pledge our total support to the candidate so nominated and affirmed.
  4. That we commit ourselves to peace, unity, and cohesion within the APC, and pledge not to engage in any act, public or private, that may undermine the integrity of the process or the standing of the party.
  5. That we will work collectively and individually to ensure the success of the APC at the polls and the consolidation of good governance in Osun State.

“We make this declaration voluntarily, in absolute loyalty to our great party, and in recognition of the guidance provided by Mr President and the National Chairman in the overriding interest of the progress and stability of Osun State”.

 

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