Mining – Tech | Business | Economy https://techeconomy.ng Tech | Business | Economy Mon, 30 Dec 2024 06:24:53 +0000 en-GB hourly 1 https://wordpress.org/?v=7.0 https://techeconomy.ng/wp-content/uploads/2025/06/cropped-256Px-32x32.png Mining – Tech | Business | Economy https://techeconomy.ng 32 32 UnoTelos, Niral Networks Forge Strategic Partnership to Revolutionize Connectivity in Africa https://techeconomy.ng/unotelos-niral-networks-forge-partnership/ https://techeconomy.ng/unotelos-niral-networks-forge-partnership/#respond Mon, 30 Dec 2024 06:24:53 +0000 https://techeconomy.ng/?p=150327 UnoTelos, a leading telecommunications innovator in Nigeria, today announced a groundbreaking strategic partnership with Niral Networks, an advanced Private 5G and EDGE AI computing solutions provider from India.

This collaboration marks a significant milestone in addressing connectivity challenges and driving digital transformation across Africa.

Transformative Connectivity Solutions

The partnership between UnoTelos and Niral Networks emerges from a shared vision to overcome critical network infrastructure limitations that have traditionally hindered technological progress in the region.

By combining UnoTelos’ deep understanding of the African market with Niral Networks’ cutting-edge NiralOS 5G Core and Edge AI technology, the collaboration aims to deliver secure, low-latency, and scalable connectivity solutions.

“This partnership is more than a technological alliance—it’s about empowerment,” said Jude Egbokwu founder & CEO, UnoTelos. “We are not just solving connectivity problems; we’re creating opportunities for businesses to innovate, grow, and compete on a global stage.”

“Our collaboration with UnoTelos represents a pivotal moment in the digital transformation journey across Africa. By integrating Niral Networks’ advanced Private 5G and Edge AI technologies with UnoTelos’ profound system integration capabilities and market insights, we are not just deploying telecom infrastructure—we are engineering ecosystems for innovation. This partnership is strategically designed to address the continent’s most critical connectivity challenges, enabling industries from mining to oil & gas to leapfrog technological barriers and compete on a global scale,” Abhijit Chaudhary, founder & CEO, Niral Networks said.

Strategic Focus and Initial Deployments

The initial partnership will concentrate on pilot projects across key strategic sectors, including:

  • Mining
  • Oil and Gas
  • Manufacturing
  • Shipping & Ports
  • Aviation & Airports
  • Logistics & Warehousing

The modular design of NiralOS Private 5G and Edge provides the flexibility to customize solutions that meet the unique requirements of each industry, ensuring efficient and targeted deployment.

Technological Innovation and Market Differentiation

By leveraging NiralOS Private 5G and Edge, UnoTelos is positioning itself at the forefront of telecommunications innovation. The partnership enables enterprises in Nigeria to access advanced connectivity solutions that were previously unavailable or prohibitively expensive.

Key technological advantages include:

  • Secure and reliable private network infrastructure
  • Low-latency communication
  • Scalable edge computing capabilities
  • Tailored solutions for specific industry needs

Economic and Developmental Impact

The partnership is expected to catalyse digital transformation across multiple sectors. Potential applications include smart factory solutions, enhanced remote operations, and sophisticated IoT-enabled systems that can dramatically improve operational efficiency and competitiveness.

Future Outlook

Looking ahead, UnoTelos and Niral Networks envision expanding their collaboration, with plans to:

  • Increase deployment scope
  • Develop more advanced connectivity solutions
  • Support the development of Private 5G & EDGE infrastructure
  • Advance critical sectors like telemedicine and autonomous systems
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Nigeria’s Government Revokes 1,633 Mining Licences https://techeconomy.ng/nigerias-government-revokes-1633-mining-licences/ https://techeconomy.ng/nigerias-government-revokes-1633-mining-licences/#respond Wed, 22 Nov 2023 07:52:41 +0000 https://techeconomy.ng/?p=118619 The Federal Government of Nigeria through its Ministry in charge of Solid Minerals Development has revoked 1,633 minerals titles previously given to non-complying mining companies.

The minister, Henry Dele Alake, has promised to clean up the solid minerals sector for international competitiveness and urged all stakeholders who have acted wrongly in this sector to turn a new leaf.

He announced this during a press briefing on Tuesday in Abuja.

He said the licenses of these mineral title holders were revoked due to failure to pay mandatory annual service fees of N1,500 per cadastral unit.

Alake said the revocation, based on earlier warnings to 2,213 mining companies, complies with Sections 10, 11, and 12 of the Mining Act and frees up spaces for potential investors who are willing to invest.

He lamented that the mining firms who have held the licenses for years, making huge profits from mining sites, still failed to make necessary payments accrued to the government.

He said, “It is indeed very unconscionable for corporate bodies making huge profits from mining to refuse to give the government its due by failing to pay their annual service fee. It is indeed a reasonable conjecture that such a company will be willing to pay royalties and honour its tax obligations to the government. The amount the companies are being asked to pay is peanuts compared to their revenue projections.

“In compliance with the law, the Mining Cadastral Office on October 4, 2023, began the process of revoking 2,213 titles. These included 795 Exploration titles, 956 Small Scale Mining Licences, 364 Quarry licenses, and 98 Mining Leases.

These were published in the Federal Government Gazette Number 178, Volume 110 of October 10, 2023, with the notice of revocation for defaulting in the payment of the Annual Service Fee.

“The Mining Cadastre Office has recommended the revocation of 1,633 mineral titles as follows: Exploration Licence, 536; Quarry Licence, 279; Small Scale Mining Licence, 787 and Mining Lease, 31. In line with the powers conferred on me by the NMMA 2007, Section 5 (a), I have approved the revocation of the 1,633 titles.”

He further warned that those whose licenses had been revoked should vacate mining sites to avoid being apprehended by security agencies.

Explaining the revocation process, Alake stated that the ministry gave a thirty-day written default notice to the defaulting parties to pay up the fees but only 580 titleholders responded to the notice and paid their annual fees.

“Any notice required to be sent by the Mining Cadastre Office to an applicant for, or holder of a mineral title shall be sent by courier service or registered mail to the last known address in Nigeria of the mineral titleholder or given in person to an authorised representative of the applicant or holder of the mineral title in Nigeria or published in the Gazette. The notice shall for all purposes be sufficient notice of the subject matter of the notice to the applicant for or holder of a mineral title.”

“The mandatory 30 days expired on November 10, 2023. Only 580 titleholders responded by settling their indebtedness. With this development, the MCO recommended the revocation of 1, 633 mineral titles as follows: Exploration Licence, 536; Quarry Licence, 279; Small Scale Mining Licence, 787 and Mining Lease, 31. A mineral title shall become liable to revocation where the holder thereof has failed to pay the prescribed fees.

“In case of default of payment of the annual service fee due to the Mining Cadastre Office, the Mining Cadastre Office shall give a thirty-day written default notice to the defaulting party and, if payment is not effected during that period, the Mining Cadastre Office shall record the default and revoke the mineral title.”

[Source: Punch] [Featured Image Credit]

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Nigeria’s Mining Sector Maintains Growth over 5-Year Period https://techeconomy.ng/nigerias-mining-sector-maintained-growth-over-5-year-period/ https://techeconomy.ng/nigerias-mining-sector-maintained-growth-over-5-year-period/#respond Wed, 24 May 2023 19:45:37 +0000 https://techeconomy.ng/?p=102773 Over the past 5 years, Nigeria’s mining sector has played a pivotal role in propelling the country’s GDP growth. In the fourth quarter of 2022, Nigeria witnessed a significant expansion of 3.52% in its GDP compared to the preceding year.

A KPMG report obtained by TechEconomy reveals that the mining sector has experienced significant growth in its contribution to Nigeria’s GDP. In 2022, the sector accounted for 0.85% of the GDP, a substantial increase from 0.63% in 2021, reflecting an impressive 32% year-on-year growth.

The sustained growth of the mining sector in Nigeria’s GDP underscores the efficacy of the policies and strategies implemented by the current administration.

However, further efforts are necessary to accelerate the sector’s growth trajectory and position it as a formidable competitor to the oil and gas sector, which presently serves as the primary revenue source for the country. These endeavors are crucial for advancing Nigeria’s diversification agenda.

The KPMG report emphasizes the importance of prioritizing the mining sector and implementing additional measures by the incoming administration. It recognizes the initiatives introduced by the Buhari administration while offering recommendations for further enhancements.

Nigeria's Mining Sector
Source: KPMG

The report states, “It is important to commend the current administration and the leadership of the Ministry of Mines and Steel Development (MMSD) for their implementation of policies that have contributed to the sector’s growth year after year, despite the challenges faced by industry operators.”

How to Sustain Growth

The report further highlights the substantial potential of Nigeria’s mining sector in fostering economic development, diversification, and industrialization.

However, the realization of these objectives relies heavily on the government’s sustained political will to revitalize the sector and provide it with the necessary resources and infrastructure to operate efficiently.

To demonstrate the Federal Government’s commitment to sustainable growth in the mining sector, several measures can be undertaken.

These include ensuring accessible and affordable funding, expediting the amendment of mining laws, regulations, and policies, providing reliable geodata, offering tax incentives and rebates, and enhancing security measures to safeguard mining operations.

“Considering the upcoming change in administration by May 29, 2023, significant progress is unlikely to be achieved by the current administration unless the pending bill receives an expedited hearing by the National Assembly and is enacted into law before the handover date,” report said.

KPMG urged the incoming administration will need to build upon the foundation laid by its predecessor and capitalize on the gains already realized to sustain the established growth trajectory in the mining sector.

With unwavering dedication and collective efforts, the mining sector stands poised to become the driving force behind Nigeria’s economic prosperity in the near future.

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