The Nigeria Employers’ Consultative Association has expressed worry over the rising unemployment rate in the country. In a release, the Director-General of NECA, Adewale-Smatt Oyerinde, noted the country’s high unemployment rate was having adverse effects on security and household well-being. “We are concerned at the growing rate of unemployment in the country, made worse by the continuous divestment of global businesses and closure of local ones. “It is worrisome to note that in the last three years, over 15 organisations with a combined value-chain staff strength of over 20,000 employees have either divested or partially closed operations,” he asserted. Oyerinde noted that the trend had dire consequences not only for organised businesses but also for labour, government revenue and households. He averred, “The consequences of these massive job losses across sectors will continue to create insecurity challenges, increase the occurrence of child labour (as children will be forced to become breadwinners), adversely affect the disposable income of families, erode the purchasing power of individuals and drastically reduce economy’s output.” While proffering solutions to the challenge, the NECA DG urged the government to urgently address the multi-faceted challenges currently being faced by organised businesses.