Lawan said this at the presentation of the 2020 budget estimates by President Muhammadu Buhari to a joint session of the National Assembly on Tuesday in Abuja.
He said that over the years, the public procurement process appeared to be encumbered by a lengthy bidding process and inadequate mobilsation of funds among other limitations of the Act as amended.
“These tend to delay execution of government programmes and projects, or even stalled achieving the execution.
“The national assembly will fast track the amendment of the Act to ensure effective and efficient implementation of our budgets.”
He said that the assembly would ensure that the Federal Government was better enabled to provide enhanced security for protection of lives and property of Nigerians.
“We will also ensure an improved and revitalised economy that is all inclusive; able to create and sustain employment opportunities for our teeming youths; taking Nigerians out of poverty to prosperity and sustainable development.
“The budget estimates will remain what they are, estimates, until we are able to generate and receive the necessary revenues to fund and foot the bills.”
The president of the senate said that it was imperative for the revenue generating agencies to be more alive to their responsibilities on how to meet their revenue targets.
He further said that the assembly would continue to review how the revenue generation, collection and remittance would be more effective and efficient.
“We, therefore, need to review the laws establishing the agencies responsible with a view to enhancing their capacity and capability.”
He assured Buhari of the readiness of the Assembly to partner with the administration to achieve all the goals and targets of taking Nigeria to the `Next Level` of development and prosperity.