<P> Nigeria has one of the world's highest economic growth rates, averaging 7.4% according to the Nigeria economic report released in July 2014 by the World Bank . Poverty still remains significant at 33.1% in Africa's biggest economy . For a country with massive wealth and a huge population to support commerce, a well - developed economy, and plenty of natural resources such as oil, the level of poverty remains unacceptable . However, poverty may have been overestimated due to the lack of information on the extremely huge informal sector of the economy, estimated at around 60% more, of the current GDP figures . </P> <P> Poverty in Nigeria can also be caused by the political instability of the country . However, these programs have largely failed to overcome the three reasons for this persistent poverty: income inequality, ethnic conflict, and political instability . </P> <P> As at 2010, the Gini coefficient of Nigeria is rated medium, at 0.43 . However, there are more rural poor than urban poor . This is correlated with differential access to infrastructure and amenities . This results from the composition of Nigeria's economy, especially the energy (oil) and agriculture sectors . Oil exports contribute significantly to government revenues; it contributes 9% to the GDP, and employs only a fraction of the population . Agriculture, however, contributes to about 17% of GDP, and employs about 30% of the population . </P>

What are the major causes of poverty in nigeria
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