The Business Association of Nagas (BAN) emphasized that economic freedom is now a necessity, urging Nagaland to strategically invest in its resources to overcome high unemployment, weak infrastructure, and low quality of life.
While lauding JD (U) legislator Jwenga Seb for his strong advocacy in the 14th Nagaland Legislative Assembly regarding the urgent need for petroleum exploration in the state, BAN noted that with neighboring Assam making rapid economic strides– securing investments exceeding its state budget through Advantage Assam 2.0– Nagaland must take decisive action to harness its untapped petroleum and natural gas reserves.
BAN highlighted that oil and gas extraction could be a game changer by– generating massive revenue to reduce dependence on central grants; creating large-scale employment through petroleum-based industries; driving industrial and infrastructure development, including roads and refineries and strengthening Nagaland’s negotiating power with the Government of India.