Dr Olawale Fasanya, former Director-General of the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN), has revealed that he was widely perceived as irrational for leaving a high-paying role at the Petroleum Technology Development Fund (PTDF) with a monthly salary of about N1.2 million. Speaking on Thursday in Abuja during the public presentation of his autobiography, Cradle to Saddle, Fasanya disclosed that the PTDF position came with additional benefits including first-class travel and annual overseas training opportunities. He accepted a role at SMEDAN paying less than N300,000 per month, a decision he said drew criticism and disbelief from colleagues and associates. "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 stated. At PTDF, Fasanya held the rank of general manager but felt sidelined, describing his role as largely ceremonial. He said the chief executive at the time wanted him to serve as a figurehead, which clashed with his desire to contribute meaningfully. "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," Fasanya explained. Despite appeals from the PTDF chief executive to stay, he resigned, driven by his commitment to SMEDAN, an agency he joined at inception as staff number 001. He described his return to SMEDAN as a homecoming, emphasizing personal fulfillment over financial gain.

💡 NaijaBuzz Take

Fasanya walked away from N1.2 million and first-class travel to return to a job paying under N300,000, exposing how deeply symbolic roles in Nigerian agencies can demoralize even top officials. His claim of being treated as a figurehead at PTDF raises questions about leadership autonomy in government-funded institutions. When financial incentives fail to retain executives who seek impact, it reflects a systemic issue beyond salary structures. The fact that he was the agency's first employee underscores a personal allegiance that outweighs bureaucratic comfort.

💡 NaijaBuzz Take is AI-assisted editorial opinion, not established fact. Full disclaimer →