Nigeria, May 28 -- The Federal Government of Nigeria has laid out its schedule for an external loan of $21.5 billion as it moves to stimulate nationwide growth and fill its humongous infrastructural deficit.

President Bola Ahmed Tinubu will send the request for the loan to the National Assembly under the government's Debt Rolling Plan 2025 to 2026.

The Finance Ministry, in a statement by its Director of Public and Information Relations, Mohammed Manga, reaffirmed that the borrowing policy was not an ad hoc rise in borrowing but a sound fiscal policy to guide federal and subnational borrowing for the two-year horizon.

The ministry again quotes that the Debt Rolling Plan enables Nigeria to move from an unmethodical borrowing culture to a...