Chief finance officer Kadri Modupe obtained the highest individual allotment of 187,496 shares.

MTN Nigeria has given 33 senior executives 1.3 million shares as part of its long-term incentive strategy.

The allocation, revealed in regulatory filings with the Nigerian Exchange Limited, took place between March 26 and 28, 2025, as part of the telecom giant's Performance Share Plan (PSP).

The PSP is intended to reward high-performing employees and provide for incremental ownership of business equity over a three-year period.

These allocations are designated for eligible workers at levels 3 through 6, and are intended to align employee aspirations with MTN's long-term growth objectives.

Chief finance officer Kadri Modupe obtained the highest individual allotment of 187,496 shares. Other awardees included corporate secretary Ukpanah Uto (85,213 shares), chief technical officer Ibrahim Yahaya (96,726 shares), and general manager of finance Akinola Stephen (83,959 shares).

The share allocations come as MTN Nigeria faces substantial macroeconomic issues. The telecom provider reported a net loss of $260 million for 2024, primarily due to $602 million in foreign exchange losses as the Naira fell sharply.

Despite this, revenue jumped 36% year on year to $2.1 billion, driven by higher data and digital service uptake.

“Our PSP reinforces commitment to talent retention while fostering shared success,” MTN stated in its audited financial report for 2024. The initiative mirrors strategies adopted by multinationals to stabilise leadership teams during economic volatility.

While MTN expects to improve its performance in 2025 through pricing adjustments and network enhancements, long-term recovery depends on exchange rate stability and cost control.

The share vesting reflects the company's twin focus on maintaining key expertise while navigating Nigeria's challenging business landscape.