Lagos based Academy Press has invested N 2b (approx. USD 636,000) in upgrading and modernising its press. The 51-year old print shop purchased a  a six colour press, Concepta from Muller Martini,  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, reported The Nation.
The Minister of Infor-mation and Culture, Alhaji Lai Mohammed commissioned the state-of-the-art facilities on November 13, 2016.
In his address, the chairman of Academy Press,   Simeon Olusola Ogunti-mehin said the company had 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.
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 Minister, who spoke at the inauguration said: “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.