To optimize scarce resources firms, need to formulate strategies that will enable them to achieve and sustain competitive advantage. The objective of the study was to propose recommendations to managers of MNCs operating in the mobile telecommunication sector in Nigeria on how to enhance and sustain strategic performance base on the evaluation of strategy formulation drivers. The focus on company vision, mission and long-term objectives helps to bring about new insights on the impact of strategy formulation drivers on strategic performance. The study was analysed using theoretical insights from strategic management literature to better understand how strategy formulation drivers enhance strategic performance of mobile telecommunication companies in Nigeria. The authors focused on a single industry using quantitative methods and a survey to obtain information from managers of mobile telecommunication companies operating in Nigeria. One hundred and twenty managers were randomly selected from finance/audit, sales, marketing, customer service and engineering departments of the head offices and eight regional offices of four mobile telecommunication companies in Nigeria. The authors used descriptive statistics and multiple regression techniques to analyse the resultant data. Statistical package for social sciences (SPSS 25) software was employed in the different analyses conducted. The study found that strategy formulation drivers jointly influence strategic performance of mobile telecommunication firms in Nigeria. Attention to company vision and long-term objectives has significant and positive impact on strategic performance. Furthermore, attention to company mission had a negative and significant impact on strategic performance. This study contributes to the existing literature by providing experience on strategy formulation drivers and their impact on strategic performance in mobile telecommunication companies in an emerging market (Nigeria).