Why Nigerian record labels don't last

What happened to Storm records,Ultima,Felin, Kennis, Ivory, Little fish and kreem records? What are they doing these days? they use to be the rave of the moment some ten years back, housing top artistes. No one knows the exact no of labels that have come and gone in the past twenty years. But everyone knows one thing:These guys are no magicians.but what happened? is it poor funding?inability to churn out more good music?Artiste leaving to set up their own label when they make it?poor management of funds? Exorbitant lifestyle?

Let's hear your opinion.