Most Africans especially Nigerians prefer liability to asset. In the journey of becoming a successful being, it is advisable to acquire more assets than liabilities. The questions here is where does 70%- 80% of your income goes? Asset or liability?
Is this the result of research? Or is it just your personal opinion because you see people around you doing that?
It is undeniable that many people do not consider it important to add more assets rather than liabilities because they do not get enough information that having assets is much more profitable than liabilities, but it is possible that liabilities exist because they are productive for business and profit from business can have assets.
In my opinion, in poor or developing countries 70-80% will actually be used more for needs, it is even possible that 100% of the income can only cover the cost of living so there is no opportunity to buy assets.