Jimoh Ibrahim to Acquire Oil Licence and University in Sao Tome

altThe Chairman of NICON and Global fleet Group of Companies, Barrister Jimoh Ibrahim has indicated the interest of his organisation to acquire Oil and Gas Licence and establish a private University in the Republic of Sao Tome and Principe. He also announced the commencement of NICON Insurance operation in its new branch in that country.

Barrister Jimoh Ibrahim who disclosed this at a special dinner he hosted for the visiting Prime Minister of the Republic of Sao Tome and Principe, Joachim Rafael Branco in Abuja said Nicon Insurance now controls 65 percent of private insurance in that country. “We also have government promising to open up large insurance with Nicon Insurance in the year 2010”, he said.
Barrister Jimoh also announced   the desire of the company to give priority to operations in Sao Tome and Principe, saying plan was in the offing towards acquiring licence for oil and gas in that country. 

He said, as the company expand operations to the global world, there was need for co-operations, stressing that plan was in advanced stage for the establishment of a University in Sao Tome, expected to take off in September 2010. The sum of $20million has been earmarked for the project, he said. 

He thanked the government of Sao Tome and Principe for the co-operation, saying that they would not regret doing business with Nicon Insurance Group. “The need for a university will enhance opening of the Republic business”, he said. 

In his response, the Prime Minister of Sao Tome and Principe, Mr. Raphael Branco, called on the Chairman of Nicon Group of Companies, Barrister Jimoh Ibrahim, to take economic advantage of the tourism potential in the country by constructing a five star hotel in the island.

Branco also commended Ibrahim for setting aside the sum of $20m for the take off of the university, and challenged the business magnate to fix a take -off date for the proposed university. 

The Prime Minister pointed out that his country has realized the essence of human development and has therefore resolved to support Ibrahim to attain his vision. “Our development nowadays is in human development. That is why I want to assure you we will both turn things around. I want you to give me a date you want to start a university. 

“But I want to challenge you that instead of bringing other activities to Sao Tome and Principe, why not build a hotel? Abuja is very nice. But why not consider a small hotel in our small paradise. If I have to give you an advice I will tell you this is an area of investment.” 

Speaking further, Branco explained that the NICON Group of Companies has bestridden his country’s business horizon by investing in deep water and the construction of a modern airport. 

He said the contract for the deep water transaction has been signed and the implementation would flag off by 2010. He commended Barrister Ibrahim for his sensitivity to gender issues by allowing women to head some positions in his companies. 

Besides he lauded the NICON Group for believing in the private sector, a vision which he believes should be transplanted to Sao Tome. 

He thanked the Federal Government of Nigeria for the good ambassadors it has always assigned to his country.


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