What enabled Libya to obtain rapid economic growth prior to 1990?

Upon independence an overwhelming majority of Africans lived in extreme poverty. The continent suffered from the lack of infrastructural or industrial development under colonial rule, along with political instability. With limited financial resources or access to global markets, relatively stable countries such as Kenya still experienced only very slow economic development. Only a handful of African countries succeeded in obtaining rapid economic growth prior to 1990. Exceptions include Libya and Equatorial Guinea, both of which possess large oil reserves.

Libya possessed large oil reserves enabling it to experience rapid economic growth.