New Delhi, June 11 -- Union Home Minister Amit Shah on Thursday hailed the signing of the Memorandum of Understanding (MoU) between the Government of India, Nagaland, and Assam as a "historic moment", stating that it resolves long-standing disputes which had previously hindered the economic development of both states.

Addressing the gathering at the signing of the MoU, the Union Home Minister emphasised the spirit of "Nation First" and stated that the agreement creates a win-win situation for the Centre, Assam, and Nagaland.

He noted that both states decided not to let the concerns hinder the extraction of India's oil resources, agreeing instead to a 50-50 sharing arrangement, which he emphasised as vital for national wealth.

"Today, a...