Former Director-General of the Small and Medium Enterprises Development Agency of Nigeria, Dr Olawale Fasanya, has revealed that many people considered him “mad” when he voluntarily left a lucrative position at the Petroleum Technology Development Fund for a significantly lower-paying job at SMEDAN.
Fasanya disclosed this on Thursday in Abuja during the public presentation of his autobiography, Cradle to Saddle, in which he reflected on the sacrifices and career decisions that culminated in his appointment as the agency’s chief executive.
According to him, he walked away from a monthly salary of about N1.2m, first-class travel privileges and other perks at PTDF to accept a position at SMEDAN that paid 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.
“Again, I had all sorts of perks of office. 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. But I was working with a chief executive who was later replaced. The new executive also found me useful and begged me not to leave. But I wasn’t in charge.”
Fasanya explained that despite the attractive remuneration and privileges, he was uncomfortable with a role that did not allow him 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.
“So, I left all that to be in SMEDAN, where I was travelling for economy, not even knowing that God had something big in store for me and that I would become the director-general one day,” he noted.
The former SMEDAN boss said the decision was never driven by financial considerations but by a desire to contribute meaningfully to an institution he helped build from inception.
He said, “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.
“So it’s my joy that, before me, we only had political DGs. They appointed them from outside.
“I was the only DG appointed by President Muhammadu Buhari on June 6, 2022, 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.”
Speaking at the event, Katsina State Governor, Dikko Radda, represented by his deputy, Faruk Lawal, described Fasanya as one of the pioneering officers who dedicated his career to the growth of SMEDAN and Nigeria’s small business sector.
Radda recalled working closely with Fasanya during their time at the agency and praised his loyalty, commitment and institutional knowledge.
“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.
Radda disclosed that he personally recommended Fasanya to succeed him as Director-General 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.”
Also speaking, former Chief Executive of the Nigerian Upstream Petroleum Regulatory Commission, Gbenga Komolafe, commended Fasanya’s contributions to enterprise development, noting that SMEDAN’s programmes had impacted more than 39 million Nigerians.
“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.
“I noted from the book review that SMEDAN has impacted over 39 million Nigerians, and that is quite remarkable,” Komolafe said.
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