Abuja — The Chairman of the NICON Group of companies, Mr. Jimoh Ibrahim, held talks with the Prime Minister of Sao Tome and Principe, Mr. Raphael Branco, Monday, on the potentials of expanding his investment in that island nation to include a five-star hotel.

Mr. Branco who was on a state visit to Abuja, urged Mr. Ibrahim to take advantage of the tourism potentials of the country by constructing a five-star hotel on the island.

Mr. Ibrahim has already established NICON Insurance Sao Tome and has planned to invest $20m in the establishment of the University of Soa Tome, to be owned 100 per cent by the NICON Group.

Currently, Sao Tome has no university to cater for its human capital development needs.

The Prime Minister, who spoke at a Special Dinner hosted by Ibrahim said that his country has realized the essence of human development and has therefore resolved to support Mr. Ibrahim towards establishing the nation's first university.

"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.