Providing an Empirical insight into Nigerias Non-Acceleration rate of Unemployment

This study was necessary since inflation and unemployment are twin macroeconomic variables that exert influence on policy decision of any economy. Using time series from 1972 to 2015, the Ordinary Least Squares method was employed to determine both the short-run and long-run Phillips curve and ascertain if it is evident in Nigeria. The non-accelerating inflation rate of unemployment (NAIRU) was also estimated. The results establish the presence of negative relationship both inflation and unemployment both in the short-run and long-run unemployment, though not significant. Since non accelerating inflation rate of unemployment is 11.63, the policy implication is that if the economy was to achieve full employment, an unemployment rate of 11.63 percent is inevitable