Nagaland's Riches: Unveiling Hidden Wealth in Disputed Lands

Nagaland Chief Minister Neiphiu Rio has announced a 50/50 royalty sharing agreement for resource extraction in the Disputed Area Belt (DAB) with Assam. The region, rich in petroleum, cobalt, and nickel, holds untapped wealth. The Nagaland government awaits a court decision on territory ownership while promoting local development.

Nagaland Chief Minister Neiphiu Rio has revealed plans for a fair sharing of royalties from resource extraction in the Disputed Area Belt (DAB) with Assam, emphasizing a 50/50 split. This decision comes as Assam moves to explore crude oil in the region offsetting long-standing territorial disputes.

Rio assured that both state governments are in discussions with the central authorities to commence exploration responsibly. In areas with unresolved ownership, the royalties will be held in an escrow account. The move seeks to leverage the area's wealth, notably deposits of cobalt and nickel crucial for modern technology.

Addressing the local populace, Rio highlighted the untapped potential of these resources, valued in billions, and called on the people of Nagaland to harness this wealth for progress. He stressed that unity and infrastructure improvements, like new sports facilities, would pave the way for a prosperous future.

(With inputs from agencies.)