[It will be said to them], "And you have certainly come to Us alone [i.e., individually] as We created you the first time, and you have left whatever We bestowed upon you behind you. And We do not see with you your 'intercessors' which you claimed that they were among you associates [of Allāh]. It has [all] been severed between you, and lost from you is what you used to claim."
(And who can be more unjust than he who invents a lie against Allah,) Therefore, none is more unjust than one who lies about Allah claiming that He has partners or a son, or falsely claiming that Allah sent him as a Prophet;
(or says: "I have received inspiration," whereas he is not inspired with anything;) `Ikrimah and Qatadah said that this Ayah was revealed about Musaylimah Al-Kadhdhab.
وَمَن قَالَ سَأُنزِلُ مِثْلَ مَآ أَنَزلَ اللَّهُ
(and who says, "I will reveal the like of what Allah has revealed.") This refers to he, who claims that the lies he invents rival the revelation that came from Allah. In another Ayah, Allah said,
After having concluded the argument concerning Books revealed by Allah Ta` ala against deniers, it was said in the third verse (92): وَهَـٰذَا كِتَابٌ أَنزَلْنَاهُ مُبَارَكٌ مُّصَدِّقُ الَّذِي بَيْنَ يَدَيْهِ وَلِتُنذِرَ أُمَّ الْقُرَىٰ وَمَنْ حَوْلَهَا (And this is a blessed Book We have sent down confirming what has been before it, so that you may warn the town which is the mother of all towns, and those around it), that is, as it is that they too accept that the Torah was sent down by Allah Ta` ala, so it is that We have sent down this Qur'an too, and sufficient for them is the proof of its veracity that the Qur'an confirms what has been revealed in the Torah and the Injil. And that it was revealed after the Torah and Injil is because these two Books were sent for the Bani Isra'il while for their other branch of Bani Isma'il, known as Arabs living in Umm al-Qura, that is, Makkah and its environs, there has been no prophet or book of guidance until that time. Now this Qur'an has been sent for them particularly, and for the whole world generally. Makkah al-Mu'azzamah has been called Umm al-Qura by the Holy Qur'an. It means the root and foundation of all towns and habitations. The reason is that, according to historical nar-ratives, the land mass of the earth first began appearing from here. In addition to that, this is the Qiblah, and the central attraction of all acts of ` Ibadah for the whole world. (Mazhari) Said with: أُمَّ الْقُرَىٰ (Umm al-Qura) is: وَمَنْ حَوْلَهَا (and those around it). It means all environs of Makkah, which includes the whole world East, West, North and South of Makkah.
This haughtiness which develops in a man is due to his worldly position and the material goods that are available to him in the world. He forgets that whatever blessings come his way, are only for the purpose of testing him and that too during a finite period. As soon as the time of death arrives, all these things will suddenly be snatched from him. Thereafter, his will be a lone existence, just as it was at the time of his birth. Immediately after death man will reach that stage where he will have neither wealth nor position; where he will have neither his companions nor his intermediaries; there will be only God and himself. None of the things he was proud of in the world will be there to save him from God’s scourge. Many people try to charm their way through life with the magic of words. Every man seeks and finds words to show his existence to be justified and righteous. He portrays the path he treads as straightaway leading towards correct goals. But when the revolution of the Hereafter unveils the realities, how utterly meaningless will his words appear.
Uthmani text of the Madinah mushaf (King Fahd Complex). Translation: Saheeh International. Tafsir via Quran.com.