Former Director-General of the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN), Dr. Olawale Fasanya, has revealed that many people questioned his decision to leave a highly paid position at the Petroleum Technology Development Fund (PTDF) for a significantly lower-paying role at SMEDAN.
Fasanya made the disclosure on Thursday in Abuja during the public presentation of his autobiography, Cradle to Saddle, where he reflected on the career choices and sacrifices that eventually led to his appointment as Director-General of the agency.
According to him, he voluntarily left a position that paid approximately N1.2 million monthly, alongside numerous benefits and travel privileges, to return to SMEDAN on a salary of less than N300,000.
“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. Then, I was in the Petroleum Technology Development Fund. Of course, you know the kind of salary they pay, and I was at the level of a general manager,” he said.
Fasanya explained that beyond the salary, the PTDF position came with several attractive benefits, including international training opportunities and premium travel arrangements.
“Apart from the salary, I could travel anywhere in the world for training three times a year. If I travel, it is business or first class,” he added.
Despite the attractive remuneration package, Fasanya said he felt unfulfilled because he was unable to play a meaningful leadership role within the organisation.
He recalled that after a change in leadership at PTDF, the new chief executive wanted him to remain in office but without significant responsibilities.
“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 stated.
The former SMEDAN boss noted that his decision was driven by a desire to contribute meaningfully to an institution he helped establish rather than by financial considerations.
“So, 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 because, as I said, I was the 001 employee of the agency,” he said.
Fasanya described his eventual appointment as Director-General by former President Muhammadu Buhari on June 6, 2022, as a defining moment in his career.
He noted that unlike previous heads of the agency who were appointed from outside, he rose through the ranks after being part of SMEDAN’s development journey from inception.
“I was the only DG appointed by President Muhammadu Buhari who has been part of the trajectory of the SMEDAN. So it gives me joy. Looking back, I feel that I’ve done well by going back to the agency,” he added.
Speaking at the event, Katsina State Governor, Dikko Radda, represented by his deputy, Faruk Lawal, praised Fasanya for his dedication to the growth of SMEDAN and Nigeria’s small business sector.
Radda, who previously served as Director-General of the agency, said Fasanya was one of the institution’s pioneering officers and remained committed to its mission throughout his career.
“In every institution, there are individuals who merely occupy offices, and there are those who carry the institution in their hearts. Fasanya belonged to the latter category. He was among the pioneering officers who devoted themselves wholeheartedly to the vision and mission of SMEDAN,” he said.
The governor also revealed that he personally recommended Fasanya as his successor when he left the agency to pursue his governorship ambition.
“When I left SMEDAN to pursue my governorship ambition in Katsina State, I recommended Dr. Fasanya to succeed me as Director-General because I had absolute confidence in his competence, integrity and commitment to the MSME sector.
“I am grateful to His Excellency, the late former President Muhammadu Buhari, who graciously approved that recommendation. Today, I am proud to say that history has justified that decision,” he stated.
Also speaking at the event, former Chief Executive of the Nigerian Upstream Petroleum Regulatory Commission, Gbenga Komolafe, commended Fasanya’s contributions to enterprise development and highlighted the impact of SMEDAN’s programmes across the country.
“I stand here to celebrate a very great Nigerian. Today, we are celebrating excellence. I have had a trajectory of over three decades with Dr. Olawale Fasanya as a close friend, and we have spoken on almost an everyday basis,” Komolafe said.
He further noted that SMEDAN’s interventions had reached millions of Nigerians, describing the achievement as remarkable.
“I noted from the book review that SMEDAN has impacted over 39 million Nigerians, and that is quite remarkable,” he added.
The autobiography presentation attracted government officials, business leaders, development experts and stakeholders in the micro, small and medium enterprises sector, many of whom praised Fasanya’s leadership and commitment to national development.
