Why I quit N1.2m monthly job for N300,000 salary at SMEDAN — Fasanya

Former Director-General of the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN), Dr. Olawale Fasanya, has revealed that he once left a highly paid position in the oil and gas sector to return to SMEDAN on a salary of less than N300,000, a decision many people considered irrational at the time.

Fasanya made the disclosure on Thursday in Abuja during the public presentation of his autobiography, Cradle to Saddle, where he reflected on the major decisions that shaped his career and eventual emergence as the head of the agency.

According to him, he resigned from his role as General Manager at the Petroleum Technology Development Fund (PTDF), where he earned about N1.2 million monthly and enjoyed several benefits, including international training opportunities and premium travel privileges.

He said the decision to return to SMEDAN came despite warnings from colleagues and associates who questioned why he would leave a more lucrative position for a significantly lower-paying job.

“Some people thought I was mad for leaving a job that paid roughly N1.2 million and returning to a position that paid less than N300,000 at SMEDAN,” Fasanya said.

“At PTDF, I enjoyed numerous benefits, including overseas training opportunities and first-class travel. The management wanted me to remain because they valued my contributions, but I felt I was not making the level of impact I desired.”

The former SMEDAN boss explained that financial rewards were never his primary motivation, stressing that his desire to contribute meaningfully to institutional development informed the decision.

“I could not remain in a place where I felt warehoused. I wanted to be actively involved and make a difference. I chose to go where I could contribute, even if it meant earning less,” he said.

Fasanya noted that his return to SMEDAN was also driven by a strong emotional connection to the agency, having been involved in its establishment from the beginning.

He disclosed that he was the first employee recruited by the agency and felt a personal responsibility to contribute to its growth and development.

“If money had been my major consideration, I would have stayed at PTDF. But I wanted to be part of SMEDAN’s story and help shape its future,” he stated.

He added that his decision ultimately paid off as he later became the first Director-General of SMEDAN appointed from within the organisation.

“I was employee number 001. Previous chief executives were appointed from outside the agency, so becoming the first Director-General from within the system was a fulfilling achievement,” he said.

Reflecting on his career, Fasanya said he had no regrets about the sacrifice, describing it as one of the most rewarding decisions he ever made.

Speaking at the event, Katsina State Governor, Dikko Radda, represented by his deputy, Faruk Lawal, praised Fasanya’s contributions to SMEDAN and the development of Nigeria’s micro, small and medium enterprises sector.

Radda described him as a dedicated public servant whose institutional knowledge and commitment helped advance the agency’s mandate.

The governor also disclosed that he recommended Fasanya as his successor when he left SMEDAN to pursue his governorship ambition, citing his competence, integrity and commitment to enterprise development.

Similarly, former Chief Executive of the Nigerian Upstream Petroleum Regulatory Commission, Gbenga Komolafe, commended Fasanya’s leadership and contributions to entrepreneurship development across the country.

Komolafe said programmes implemented under Fasanya’s leadership at SMEDAN created opportunities for millions of Nigerians and reinforced the agency’s role in promoting economic inclusion and enterprise growth.

The autobiography, Cradle to Saddle, chronicles Fasanya’s journey from humble beginnings to the peak of public service, highlighting the values, challenges and decisions that shaped his career.