Your web folder should be the only part of the install you expose via your webserver - so http://localhost/xibo should be hitting the web folder of your install - not the folder above web.
You can do that either by changing the web root in your apache configuration, probably using an alias as you’re using a sub directory, or by extracting Xibo elsewhere and symlinking xibo to point to your web directory.
You then need to edit your .htaccess file in the web directory to tell the system that you’re running under the path /xibo