Director-General of the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN), Dr Olawale Fasanya, has disclosed that many people thought he was “mad” for resigning from a high-paying job at the Petroleum Technology Development Fund (PTDF) to take up a lower-paying role at SMEDAN.
Fasanya made the revelation on Thursday in Abuja during the public presentation of his autobiography, Cradle to Saddle.He revealed that he left a monthly salary of approximately N1.2 million, along with attractive perks such as first-class travel and multiple overseas training opportunities annually, for a position at SMEDAN that paid less than N300,000 per month.
“Some people thought I was mad by leaving a job that actually paid roughly about N1.2m and went back to a job that pays less than 300,000 in SMEDAN,” he said.
Fasanya, who was at the general manager level at PTDF, explained that despite the financial benefits and privileges, he felt unfulfilled because he was not allowed to make meaningful contributions.“He just wanted me to be there as a figurehead. That’s why I said, I can’t be where I will not be able to be on top of things. You cannot warehouse me. So I’d rather go to where I’m getting less, and I’m not warehoused, and can make an impact,” he added.
He noted that he left PTDF despite pleas from the chief executive not to resign, driven by his passion for SMEDAN, an agency he joined as its first employee (staff number 001) from inception.Fasanya said the decision was never about money but about the opportunity to contribute meaningfully and shape the agency’s future.
He was later appointed Director-General of SMEDAN by former President Muhammadu Buhari in June 2022.“If it was about money, I would have stayed back and been enjoying that N1.2m. But I wouldn’t have been able to complete the history of SMEDAN,” he stated.
At the book launch, Katsina State Governor Dikko Radda, represented by his deputy Faruk Lawal, praised Fasanya as a dedicated pioneer who carried the institution in his heart. Radda revealed he had personally recommended Fasanya as his successor when he left SMEDAN to contest for governor.
Former Chief Executive of the Nigerian Upstream Petroleum Regulatory Commission, Gbenga Komolafe, also commended Fasanya’s contributions, noting SMEDAN’s impact on over 39 million Nigerians.
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