Minister Lauds Academy Press, Says N2b Investment Shows Confidence in Economy

The Minister of Information and Culture, Alhaji Lai Mohammed, has
lauded the Lagos-based printers Academy Press Plc for showing great
confidence in the country’s economy through the investment of N2
billion in acquiring modern equipment within one year.

The Minister, who said this in Lagos on Monday while commissioning
some of the equipment, expressed delight that the company has
continued to grow in leaps and bounds since it commenced production 51
years ago.

“I am happy to learn that unlike some other local organisations, you
have sustained your operations for over 50 years. You have not only
sustained operations, you have grown with time to a world class
printer that is comparable to what is available anywhere else in the
world, acquiring and maintaining the best of equipment, boasting of
highly-skilled personnel; up to date with modern technology and
ensuring that Nigerians get nothing but the best as far as print
production is concerned.

”It is also gladdening to learn that you have localised staff and
management and you have a structured training system to develop skills
for your own use as well as for the use of the industry,” he said.

Alhaji Mohammed said the government will continue to create the
enabling environment for the local industries to thrive and compete
favourably with their foreign counterparts in order to stimulate the
nation’s economy through job creation and conservation of foreign
exchange.

“On our own part in the current administration, we will continue to
formulate policies that will enhance and strengthen these ideals. We
will encourage the industry to develop its own support raw materials
such as bond, craft paper and newsprint as well as ink and other
chemicals. We will provide the enabling environment for this and other
industries to thrive. It is imperative that Government Agencies
patronise our local Industries, and for us to read our own
Nigerian-authored books, printed by our own printers. All documents,
including security materials, must be printed locally to safe jobs and
scarce foreign exchange.

“For the enemies of the industry, the copyright pirates, lovers of
foreign products and smugglers of such, it is time they change their
ways. This is because this Administration is committed to protecting
copyright owners so that they can reap the fruits of their hard work,”
he said.

The Minister, who was taken on a guided tour of the expansive company,
saluted the vision and courage of its founding fathers, while
underscoring the invaluable contribution of the Printing, Packaging
and Publishing sub-sector to the nation’s economy.

“This industry used to be dominated by foreign organisations, mostly
from the UK, in the colonial days and shortly after. Today, our
newspaper houses are fully localised by the organised private sector,
just like our book publishing and printing industry, with many of you
having attained international standard. This is in line with the
policy thrust of this Administration, which is to look inwards,
diversify the economy and to achieve self sufficiency in all spheres
of life,” he remarked.

Alhaji Mohammed decried the importation of 70% of the books used in
the country when companies like the Academy Press have the capacity
and competence to meet the nation’s demand for educational books and
challenged players in the sub-sector to continue to engage the
government on ways to reverse the trend.

In his address, the Chairman of Academy Press Plc, High Chief Simeon
Olusola Oguntimehin, said the company has the capacity to produce 100
million standard books, 24 million magazines and Annual Reports and
several million copies of sensitive and confidential print annually.

“Today we can boast of having one of the best printing facilities in
sub-Saharan Africa. We make high volume delivery at incredible speed,”
he said in his welcome address.

High Chief Oguntimehin appealed to the government to consider the
print industry in the allocation of foreign exchange for the
importation of raw materials and the review of some of the policies
that prevented the industry from competing favourably with its foreign
counterpart, particularly the high tariff imposed on raw materials
used for local printing.

The printing equipment commissioned by the Minister are the Muller
Martini Concepta, a six colour press with output of 40,000 impressions
per hour, and the Dimuken Hologram Applicator Machine for applying
hologram seal and hot foil stamping for security print and other
sensitive documents.