Why I Left N1.2m Job For SMEDAN’s N300,000 Salary – Ex-DG Fasanya

A former Dire ctor-General of the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN), Dr. Olawale Fasanya, has revealed that many people questioned his judgment when he voluntarily left a lucrative position in the oil and gas sector to return to SMEDAN on a salary that was less than a quarter of what he was earning.

Fasanya made the disclosure on Thursday in Abuja during the public presentation of his autobiography, Cradle to Saddle, where he reflected on the career decisions, sacrifices and convictions that shaped his professional journey and eventual emergence as Director-General of SMEDAN.

According to him, he resigned from his position as a General Manager at the Petroleum Technology Development Fund (PTDF), where he earned about N1.2m monthly and enjoyed numerous benefits, including international training opportunities and first-class travel privileges, to take up a role at SMEDAN that paid less than N300,000.

Recalling the decision, Fasanya said many people considered the move irrational because of the huge disparity in remuneration and benefits.

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

“At PTDF, apart from the salary, I had several privileges. I could travel anywhere in the world for training several times a year and whenever I travelled, it was on business or first-class tickets. The management wanted me to stay because they found me useful, but I was not in a position where I could make the kind of impact I desired.”

Fasanya explained that despite the attractive compensation package, he was dissatisfied with a role that limited his ability to contribute meaningfully to institutional development.

According to him, personal fulfilment and the opportunity to create impact outweighed financial considerations.

“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.

“That decision took me back to SMEDAN, where I travelled economy class and earned far less, without knowing that God had greater plans and that I would eventually become the Director-General.”

The former SMEDAN boss noted that his return to the agency was driven largely by a sense of responsibility and emotional attachment to an institution he helped establish from inception.
He disclosed that he was the agency’s first employee and believed he had a duty to contribute to its growth and legacy.

“If money had been my primary motivation, I would have remained at PTDF and continued enjoying the benefits. But I felt compelled to return because I wanted to be part of SMEDAN’s story and help shape its future,” he said.

“I take pride in the fact that I was the first Director-General appointed from within the system. Previous chief executives were appointed from outside. Having been employee number 001, it was gratifying to lead an agency whose growth I witnessed from the beginning.”

Fasanya added that looking back, he has no regrets about the decision, describing it as one of the most rewarding choices of his career.

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

Radda described him as one of the agency’s pioneering officers whose dedication and institutional knowledge played a significant role in advancing its mandate.

“In every institution, there are individuals who merely occupy offices and there are those who carry the institution in their hearts. Dr. Fasanya belongs to the latter category,” he said.

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

“When I left SMEDAN, I recommended Dr. Fasanya to succeed me because I had complete confidence in his abilities and dedication to the MSME sector. I remain grateful to former President Muhammadu Buhari for approving that recommendation. Today, the results have justified that decision,” he stated.

Also speaking, former Chief Executive of the Nigerian Upstream Petroleum Regulatory Commission, Gbenga Komolafe, described Fasanya as an outstanding public servant whose leadership helped expand opportunities for entrepreneurs across the country.

Komolafe noted that programmes implemented under SMEDAN had positively impacted millions of Nigerians, underscoring the agency’s critical role in promoting enterprise development and economic inclusion.

“We are celebrating excellence today. I have known Dr. Fasanya for more than three decades and have watched his dedication to public service. The impact SMEDAN has made on millions of Nigerians is a testament to the value of committed leadership,” he said.

The autobiography, Cradle to Saddle, chronicles Fasanya’s journey from humble beginnings to the pinnacle of public service, highlighting the choices, challenges and values that shaped his career in Nigeria’s public sector.