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Michael Jackson remains world’s highest-earning dead celebrity

More than 15 years after his death, pop legend Michael Jackson continues to dominate even in the afterlife, earning an estimated $105 million over the past year, according to Forbes.

Forbes estimates that Jackson’s estate has generated $3.5 billion since his passing in 2009, largely from major catalog sales and his enduring global brand.

‘When it comes to estate earnings,’ a top estate lawyer told Forbes, ‘it’s MJ, then an enormous canyon, then everybody else.’

The bulk of Jackson’s posthumous fortune comes from unwinding assets he acquired during his lifetime. Notably, his purchase of the ATV music catalog in 1985 for $47.5 million which included nearly 4,000 songs by John Lennon and Paul McCartney paid off when the estate sold its stake to Sony in 2016 for $750 million.

In 2024, the estate finalized another deal, selling a 50% stake in Jackson’s own publishing and master recordings to Sony for $600 million, a move opposed by his mother, Katherine Jackson, who claimed it went against her son’s wishes.

Beyond asset sales, Jackson’s name continues to generate millions through entertainment ventures. His 2009 concert film This Is It grossed $267 million globally, while his Cirque du Soleil shows and MJ: The Musical have collectively earned nearly $300 million in ticket sales.

Musicians continue to dominate the list of top-earning late celebrities, with icons like Prince, John Lennon, and Bob Marley also generating millions from royalties and catalog sales. Together, the 13 highest earners brought in $541 million before taxes and fees.

Forbes notes that several newcomers joined the list after selling music rights to investment groups, despite a slowdown in the once-booming market for music catalogs.

Still, few stars maintain the kind of lasting global appeal Jackson has achieved. His estate remains a model of posthumous brand success, combining music, merchandising, and licensing to ensure that, even in death, the King of Pop remains one of the most profitable names in entertainment.

NSA, service chiefs meet over Trump’s action against Nigeria

The National Security Adviser (NSA), Malam Nuhu Ribadu, is in a closed-door crucial meeting with service chiefs and heads of security and intelligence Agencies in the country

The crucial meeting is holding at the National Counter Terrorism Centre (NCTC), Abuja,

Security sources said that an emergency meeting followed reports of a directive by U.S. President Donald Trump to prepare for possible military action in Nigeria.

A security source told our correspondent that the emergency meeting, which began in the afternoon, was aimed at assessing the implications of Trump’s statement accusing the Nigerian government of failing to protect Christians from Islamist militant groups.

Trump’s remarks, made late Saturday, alleged that the U.S. military was being prepared to ‘act in Nigeria to tackle Islamist militancy’ a statement that had triggered widespread concern across diplomatic and security circles in Abuja.

According to the source, the NSA convened the session to coordinate a unified national security response and review intelligence assessments on the potential fallout of the U.S. president’s pronouncement.

The outcome of the meeting is expected to be communicated through official channels from the Office of the National Security Adviser

Kano: Troops kill 19 bandits in fierce gun duel

Troops of the Joint Task Force, Operation MESA, in Shanono Local Government Area of Kano State, have repelled a terrorist incursion, killing 19 bandits in a fierce gun battle that also claimed the lives of two gallant soldiers and a local vigilante.

According to a statement by Captain Babatunde Zubairu, Assistant Director, Army Public Relations, 3rd Brigade, Nigerian Army, the operation took place around Ungwan Tudu, Ungwan Tsamiya, and Goron Dutse axis of Shanono at about 5:00 pm on November 1, 2025, following a credible tip-off on the movement of the bandits.

Captain Zubairu said the troops of 3 Brigade, supported by other security agencies, launched a coordinated raid on the bandits, who had invaded the area on motorcycles, leading to a prolonged exchange of gunfire.

‘The intervention commenced when gallant troops swiftly responded to reports of bandits’ movements in the area. Our troops deployed at Tsaure came in contact with the criminals, leading to a heavy exchange of fire. The troops pursued the fleeing bandits and successfully recovered several motorcycles and two mobile phones,’ the statement read.

He confirmed that 19 of the bandits were neutralized during the encounter, while two soldiers and one local vigilante lost their lives in the line of duty.

Captain Zubairu added that further operations are ongoing in the general area to ensure the total clearance of the remaining criminals, as well as to safeguard vulnerable communities.

Analysts praise Dangote for advancing self-sufficiency, liberation in oil sector

Nigeria’s long-standing struggle to refine its own crude oil-and the economic vulnerabilities that accompany dependence on imported petroleum-came under rigorous examination on Sunday as analysts praised the Dangote Refinery for representing a historic pivot toward self-sufficiency and national economic liberation.

The conversation unfolded during the latest edition of the Toyin Falola Interviews, a widely followed intellectual forum streamed live across Facebook, YouTube, and X. The session, themed ‘Dangote, Oil and Power in Nigeria,’ convened an assembly of respected scholars, governance experts, and labour rights advocates. Among them were Professors Victor Oguejiofor Okafor, Mobolaji Ebenezer Aluko, Ehiedu Goodluck Iweriebor, Jibrin Ibrahim, governance scholar John Onyeukwu, and labour veteran Comrade Owei Lakemfa.

Opening the debate, eminent historian and convener, Professor Toyin Falola, located the Dangote Refinery within the broader history of Nigeria’s industrial failures and missed opportunities.

‘This refinery,’ Falola said, ‘is a historic intervention in Nigeria’s industrial destiny. It disrupts a tragic pattern in which a major oil-producing nation relies on others to refine the very resource that sustains its economy. For decades, structural dependence has been our reality; this project challenges that legacy.’

Falola noted that the refinery forces Nigerians to confront long-ignored questions: why successive administrations failed to maintain public refineries, why the nation bleeds billions in fuel importation, and why critical infrastructure often requires private intervention.

Professor Ehiedu Goodluck Iweriebor, a historian of modern Africa, provided sweeping historical context, situating the refinery within the continent’s pursuit of economic autonomy.

‘Since 1974, Africa – and especially Nigeria – has been trapped in a fuel quagmire,’ he argued. ‘Dangote’s entry into refining is a liberation mechanism, not only in economic terms but in historical terms. It marks a determined effort to end a cycle of dependency that has crippled African development.’

He explained that domestic refining will conserve billions in foreign exchange, reduce pressure on the naira, and create economic linkages in transportation, manufacturing, petrochemicals, and technological innovation.

‘This is an African renaissance in motion,’ he said. ‘It is a practical expression of the continent’s long-standing desire to control its resources and dictate its economic fate.’

Adding a technical perspective, Professor Mobolaji Ebenezer Aluko, a chemical engineer and former vice-chancellor, praised the refinery as a triumph of Nigerian engineering ambition.

‘This refinery has shown what purposeful private investment can accomplish where public institutions have faltered repeatedly,’ Aluko stated. ‘It stands as evidence that Nigerians possess not just vision but the technological competence to execute large-scale industrial projects.’

But he warned policymakers to refrain from deploying regulatory aggression against the refinery, which he described as still in its infancy and vulnerable to unnecessary pressure.

‘When regulators meet a new industry,’ he cautioned, ‘they must not do so with a heavy hand. Fuel and energy are strategic national assets. A refinery of this scale needs stability, not suffocation.’

He likened the refinery to ‘a golden goose that must not be strangled before it learns to lay.’

Governance expert John Onyeukwu broadened the conversation, arguing that the country’s chronic regulatory contradictions threaten to undermine even the best projects.

‘Nigeria does not suffer from a scarcity of resources,’ he remarked. ‘What we lack is regulatory integrity-the capacity of institutions to make decisions transparently, without political capture or corruption.’

Onyeukwu warned that weak institutions could allow dominant private actors, including Dangote, to amass unchecked market power.

‘If we are not careful,’ he said, ‘we will simply move from state capture to market capture. The answer is neither laissez-faire nor hostility; it is disciplined, consistent regulation.’

From a political-economy standpoint, Professor Jibrin Ibrahim offered a striking personal admission.

‘I was a Dangote hater,’ he confessed, ‘because I thought our democracy was already tilted towards powerful private interests. But looking at this refinery, I see a national asset that must not be sabotaged.’

However, he maintained that support for the refinery must not translate into giving it undue privilege or overlooking violations.

‘Let us support the refinery without worshipping it,’ he said. ‘Let it thrive, yes, but let it also comply fully with labour rights and market rules. National progress must not come at the cost of justice.’

Labour icon Owei Lakemfa offered the strongest cautionary notes, acknowledging the refinery’s strategic value while condemning what he described as troubling labour practices.

‘I support national development,’ he began, ‘but we must not sacrifice workers’ rights on the altar of industrial expansion. Human beings are not collateral damage in the pursuit of economic self-sufficiency.’

He accused the refinery of taking actions that amounted to ‘collective punishment,’ referencing allegations of mass worker dismissals.

‘A refinery that promises national liberation must also liberate its workers,’ he insisted.

Moderator Professor Victor Oguejiofor Okafor guided the conversation with a series of probing questions, including concerns about why the refinery must purchase crude from intermediaries rather than directly from the Nigerian National Petroleum Company (NNPC).

He observed that the documentary anchoring the conversation was intentionally provocative to stimulate debate.

‘Our task today,’ Okafor concluded, ‘is not to produce uniformity but clarity. Dangote’s refinery is capable of reshaping Nigeria’s future-but only if policy, labour relations, and public accountability align meaningfully.’

Borno emerges best performing state in malaria, immunisation project

Borno State has emerged as the overall best in the implementation of Immunisation Plus and Malaria Progress by Accelerating Coverage and Transforming Services (IMPACT), surpassing other participating states across the country.

IMPACT is a World Bank-supported community-driven project aimed at reducing by half the mortality of children under five by 2030, through strengthening the primary healthcare centres.

The project delivers integrated immunisation-plus and malaria services to vulnerable populations across 235 primary and secondary healthcare facilities across the state.

Receiving the award at the Government House in Maiduguri over the weekend, Borno State Governor, Babagana Umara Zulum, commended the efforts of the Ministry of Health for achieving the milestone.

Zulum reaffirmed his administration’s commitment to continuing its investment in the health sector to improve the well-being of the people of the state.

He said, ‘I would like to commend the Health Commissioner, the Permanent Secretary, the IMPACT project coordinator, and the rest of the team for their efforts in achieving this feat of becoming the best-performing state.

‘On behalf of the government and people of the state, I extend our sincere gratitude.

‘Healthcare is one of the priorities of this administration; therefore, I would like to assure you that more investment will be made in the entire value-chain of the health sector to ensure a quality and affordable healthcare delivery system for people of the state.’

While presenting the award to the Governor, Commissioner for Health and Human Services, Prof. Baba Malum Gana, said that the State achieved the feat owing to the high performance in the implementation of the project in a holistic and coordinated approach, deployment of digital monitoring tools, as well as data quality.

He remarked that more than two million anti-malaria drugs, two million test kits and other essential consumables have been distributed in the last year.

‘In the last one year, more than 2 million anti-malaria, 359,596 long-lasting insecticide-treated nets and 2 million test kits and other essential non-malaria drugs and medical consumables have been distributed across 235 health facilities across the state,’ Malum Gana said.

The Commissioner emphasised that despite the security challenges and the 2024 flood disaster, the state was able to achieve immunisation coverage in vulnerable areas.

US military intervention: Trump’s action in Nigeria must respect international law – Soludo

Anambra State Governor, Chukwuma Soludo, has said that any action taken by United States President Donald Trump, regarding Nigeria, must respect international law and the country’s sovereignty.

Speaking during a media chat on Sunday, Soludo cautioned Trump against oversimplifying Nigeria’s security challenges, stressing that the problems facing the nation are far more complex than a religious conflict.

He dismissed Trump’s threat to ‘protect Christians in Nigeria,’ describing it as a shallow interpretation that ignores the realities on the ground.

‘As a country, America has a right to hold its own views,’ Soludo said. ‘But whatever it does must fall within the boundaries of international law.’

The governor urged diplomatic engagement between Nigeria and the US to clarify facts and correct misconceptions.

He explained that much of the violence in the Southeast lacks any religious dimension, noting that many of the perpetrators and victims share the same faith.

‘People are killing themselves – Christians killing Christians,’ Soludo explained. ‘The people in the bushes are Emmanuel, Peter, John – all Christian names – and they have maimed and killed thousands of our youths. It has nothing to do with religion.’

Soludo added that any foreign support Nigeria might seek would come through official channels and cooperation – not through threats or unilateral intervention.

He further criticised the idea of a foreign invasion, likening it to a scenario in which African nations threaten the US over racial injustices.

The governor stressed that open dialogue remains the most viable way to resolve the country’s security and social problems.

‘There is a need for deeper conversation,’ he said. ‘The government of Nigeria will respond robustly. Nigeria is a large country, and much is being done to secure it.’

Soludo, who is contesting for re-election in Anambra State, rejected narratives portraying the south-east crisis as a religious conflict.

‘In this part of the country, we are 95 percent Christian,’ he said. ‘The people in the bushes killing others bear Christian names. It is far beyond a Christian-Muslim categorisation. Nigeria will overcome, and the solution will come through dialogue.’

The strength of soft power

In precolonial Philippines, the male datu served as the secular head of the community, but the female babaylan was revered as its spiritual leader. Their roles were interdependent and complementary: the datu governed through political authority and military might, while the babaylan’s power stemmed from her access to the divine and gift for healing. This dual-gender system was said to have created a holistic approach to community decision-making and well-being, ensuring that an assertive leadership style is always tempered by nurturing wisdom.

In a recent leadership training for newly elected and first-term female local officials by the Philippine Commission on Women and UN Women, PCW chair Ermelita Valdeavilla shared how we lost this equitable approach to governance when Spanish colonizers demonized the babaylans to subjugate the Filipino people. The rebranding of feminine strength as weak and inferior has led to the rise of modern institutions that privilege the male perspective.

Government services cannot be neutral; they have to be gender-responsive. Valdeavilla emphasized the need for strategic feminist leadership-a shared commitment from both male and female leaders to proactively ‘remove factors that sustain unequal gender relations.’ This means going beyond abolishing discriminatory practices and enacting new ordinances that address the distinct challenges that women face. One priority area is establishing local policies that support a more equitable care economy. In the Philippines, unpaid care work like household maintenance, childcare, and elderly or sick/disabled care, is disproportionately shouldered by women and girls. They dedicate an average of 11 hours per day to these tasks, four times more than men, revealing how gendered expectations continue to shape Filipino life.

Acknowledge that barriers still exist so they can be addressed. In her research, political scientist Farida Jalalzai found that globally, women are more likely to serve as prime ministers than as presidents, because very few female public officials can overcome the sexism and stereotypes that hinder them from winning the national vote in a presidential system. As a country that has had two female presidents, it is easy to believe that the Philippines must be an exception. However, our small victories should not lead to complacency.

As Dr. Melanie Reyes, executive director of the Miriam College Women and Gender Institute, reminded the training participants, Filipino women continue to face systemic barriers to pursuing public office. This includes the lack of access to campaign funding and financial networks, limited mentorship opportunities, as well as the persistent threat of violence, Red-tagging, harassment, and character attacks. She also pointed out that some women are being conveniently used by political dynasties as ‘proxies’ to maintain the status quo rather than to improve the system. Reyes emphasized that true progress cannot be measured merely by the number of women occupying seats in government, but by how effectively they use their positions to create transformative change.

Those in power must use their position to challenge outdated norms and stereotypes. In a panel discussion, Romblon Gov. Trina Firmalo-Fabic and Santiago Mayor Sheena Pua Tan shared that gender-based discrimination does not disappear once a woman is elected into office, so women leaders must be prepared, secure, and strategic. Firmalo-Fabic noted that resistance is inevitable, but can be addressed through patience, evidence, and collaboration. ‘You have to explain why the reforms are needed, show that there are results and that something good will come out of it,’ she said. ‘Try your best to get them on board, but if it gets difficult, find out who from your team can help out.’ Tan emphasized the importance of consistency to maintaining credibility as a leader, and the best way to institutionalize gender-responsive reforms is through executive orders and ordinances. ‘It is difficult to be consistent all the time, but we just make it harder for our human frailties to transcend our work,’ she shared.

UN Women Philippines coordinator Rosalyn Mesina pointed out that leadership in both government and the private sector has been largely shaped by a ‘compadre culture, where men work together to protect and advance each other’s interests.’ This also fuels a women-against-women dynamic, as some feel compelled to mimic patriarchal behaviors to survive within male-dominated systems. Mesina hopes that building solidarity among female local leaders will create networks of mutual support and help open doors for more women to enter public service.

A two-pronged attack on corruption

In precolonial Philippines, the male datu served as the secular head of the community, but the female babaylan was revered as its spiritual leader. Their roles were interdependent and complementary: the datu governed through political authority and military might, while the babaylan’s power stemmed from her access to the divine and gift for healing. This dual-gender system was said to have created a holistic approach to community decision-making and well-being, ensuring that an assertive leadership style is always tempered by nurturing wisdom.

In a recent leadership training for newly elected and first-term female local officials by the Philippine Commission on Women and UN Women, PCW chair Ermelita Valdeavilla shared how we lost this equitable approach to governance when Spanish colonizers demonized the babaylans to subjugate the Filipino people. The rebranding of feminine strength as weak and inferior has led to the rise of modern institutions that privilege the male perspective.

Government services cannot be neutral; they have to be gender-responsive. Valdeavilla emphasized the need for strategic feminist leadership-a shared commitment from both male and female leaders to proactively ‘remove factors that sustain unequal gender relations.’ This means going beyond abolishing discriminatory practices and enacting new ordinances that address the distinct challenges that women face. One priority area is establishing local policies that support a more equitable care economy. In the Philippines, unpaid care work like household maintenance, childcare, and elderly or sick/disabled care, is disproportionately shouldered by women and girls. They dedicate an average of 11 hours per day to these tasks, four times more than men, revealing how gendered expectations continue to shape Filipino life.

Acknowledge that barriers still exist so they can be addressed. In her research, political scientist Farida Jalalzai found that globally, women are more likely to serve as prime ministers than as presidents, because very few female public officials can overcome the sexism and stereotypes that hinder them from winning the national vote in a presidential system. As a country that has had two female presidents, it is easy to believe that the Philippines must be an exception. However, our small victories should not lead to complacency.

As Dr. Melanie Reyes, executive director of the Miriam College Women and Gender Institute, reminded the training participants, Filipino women continue to face systemic barriers to pursuing public office. This includes the lack of access to campaign funding and financial networks, limited mentorship opportunities, as well as the persistent threat of violence, Red-tagging, harassment, and character attacks. She also pointed out that some women are being conveniently used by political dynasties as ‘proxies’ to maintain the status quo rather than to improve the system. Reyes emphasized that true progress cannot be measured merely by the number of women occupying seats in government, but by how effectively they use their positions to create transformative change.

Those in power must use their position to challenge outdated norms and stereotypes. In a panel discussion, Romblon Gov. Trina Firmalo-Fabic and Santiago Mayor Sheena Pua Tan shared that gender-based discrimination does not disappear once a woman is elected into office, so women leaders must be prepared, secure, and strategic. Firmalo-Fabic noted that resistance is inevitable, but can be addressed through patience, evidence, and collaboration. ‘You have to explain why the reforms are needed, show that there are results and that something good will come out of it,’ she said. ‘Try your best to get them on board, but if it gets difficult, find out who from your team can help out.’ Tan emphasized the importance of consistency to maintaining credibility as a leader, and the best way to institutionalize gender-responsive reforms is through executive orders and ordinances. ‘It is difficult to be consistent all the time, but we just make it harder for our human frailties to transcend our work,’ she shared.

UN Women Philippines coordinator Rosalyn Mesina pointed out that leadership in both government and the private sector has been largely shaped by a ‘compadre culture, where men work together to protect and advance each other’s interests.’ This also fuels a women-against-women dynamic, as some feel compelled to mimic patriarchal behaviors to survive within male-dominated systems. Mesina hopes that building solidarity among female local leaders will create networks of mutual support and help open doors for more women to enter public service.

Valdeavilla reminded the newly elected female officials that they have the DNA of ancient babaylans, and that they come from a ‘lineage of top-notch humanist leaders’ who used their position to nurture communities and uplift others. It is time for more Filipino women to embrace and reclaim that power. Corruption in the Philippines is not merely a crime of opportunity; it is a general ailment sustained by legal frameworks that actively protect the corrupt. For decades, ill-gotten wealth has been shielded behind two formidable fortresses: the impenetrable privacy of bank accounts and the anonymous mask of corporate entities. To win the fight against corruption, the Philippines must launch a decisive assault on both fronts simultaneously. Repealing the outdated bank secrecy law and mandating beneficial ownership disclosure for government contractors are not just isolated reforms but complementary, essential strategies to dismantle the infrastructure of graft and reclaim public trust.

The first and most critical fortress to breach is the financial one, protected by the bank secrecy law. This law, originally intended to safeguard financial privacy, has been weaponized into a primary shield for corruption. It creates an incapacitating ‘chicken and egg’ problem for investigators: to obtain a court order to look at an account, they must already possess strong evidence of illicit funds, yet such evidence is often impossible to gather without examining the accounts themselves. This legal barrier forces agencies like the Office of the Ombudsman and the Anti-Money Laundering Council to stand idle while corrupt officials freely move and hide stolen public money across a web of accounts. Repealing this law would transform the anticorruption landscape. It would empower investigators to ‘follow the money in real time,’ swiftly act on suspicions before funds vanish, and build stronger court cases with undeniable transaction trails. This repeal would also act as a ‘force multiplier,’ making laws against plunder and tax evasion enforceable by directly exposing the accumulation of illicit wealth.

The second fortress is the corporate veil, which allows anonymous entities gorging on public funds. Government contracts, funded by taxpayers, are a major instrument for corruption, yet the current system permits companies to win lucrative deals while hiding their true owners. This anonymity is a fertile ground for conflicts of interest, as it becomes impossible to screen for officials awarding contracts to their own shell companies or to businesses owned by relatives and associates. Mandatory beneficial ownership disclosure-revealing the real people who ultimately own or control a company-is the necessary tool to pierce this veil. It transforms intangible corporate entities into accountable individuals, deterring misconduct by ensuring that every entity profiting from public funds has a ‘human face’ that can be scrutinized. Furthermore, this disclosure is indispensable for investigating fraud, as it provides law enforcement with a starting point-a person to question and a network to map-unlocking the corporate maze used to launder money and hide assets.

Skeptics may raise concerns about financial privacy and undue burdens on businesses. However, these worries are manageable and are vastly outweighed by the monumental scale of public theft. A repeal of the bank secrecy law can be crafted with strong judicial safeguards, limiting access to specific, serious crimes and preventing ‘fishing expeditions.’ The argument that financial secrecy attracts investment is outdated; modern capital is drawn to stability and the rule of law, not to havens for dirty money. Similarly, the burden of disclosing beneficial owners-typically those with a 25 percent or more stake-is a minor inconvenience for legitimate businesses when balanced against the state’s interest to prevent systemic corruption. The true burden lies with the public, who bears the cost of investigating fraud enabled by anonymity.

The fight against corruption in the Philippines has long been an uphill battle because the most powerful tools for hiding wealth-secret bank accounts and anonymous corporate structures-have been legally protected. Repealing the bank secrecy law and mandating beneficial ownership disclosure are targeted, pragmatic, and powerful reforms that strike at the heart of this problem. One unlocks the flow of illicit money, while the other exposes the true beneficiaries of suspicious contracts. Together, they create a powerful environment of transparency and accountability. By dismantling these twin fortresses, the Philippines can shift from a reactive stance to a proactive one, creating a powerful deterrent, recovering stolen assets, and building a future where integrity, not corruption, is the foundation of governance. The path to a more just and transparent nation demands no less.

Manny Ilao is a former chief financial officer who draws on his experience in finance and familiarity with Philippine banking laws to share informed opinions on good governance.

Liza Soberano to drop new single ‘Red Ferrari’ on November 14

Liza Soberano announced that she will be entering the music scene, as she revealed that she will drop her debut single ‘Red Ferrari’ on November 14.

Soberano announced her upcoming debut into music on her TikTok page on Sunday, November 4, while sharing a snippet of the single to her followers. The clip also showed the actress jamming to the song.

‘GUESS WHO’S DROPPING A SINGLE ON NOVEMBER 14th,’ she captioned her post along with the hashtag ‘#RedFerrari.’ Soberano’s announcement came days after it was confirmed that she will be part of the upcoming animated film ‘Forgotten Island’ with fellow Filipinos Lea Salonga, Manny Jacinto, and Gabriella Sarmiento Wilson (or H.E.R.). Joining them are Dave Franco and Jenny Slate. It is set to be released in cinemas in September 2026.

A collaboration between Joel Crawford and Januel Mercado, ‘Forgotten Island’ tells the story of lifelong best friends Jo (H.E.R.) and Raissa (Soberano) finding themselves stuck on the forgotten island of Nakali. As they navigate the island, they are determined to find their way home after losing their cherished memories.

Soberano, who’s currently based in the US, made her Hollywood debut in the film ‘Lisa Frankenstein.’

Gov’t financing position rose to P1.27 trillion in Sept

The national government’s financing position grew by 2.7 percent in the nine months ending Sept. 30, with net inflows totaling P1.27 trillion.

This year-on-year increase came up as the monthly readout for September slashed the year’s running tally by P117.38 billion.

In September, the government amortized a total of P237.93 billion worth of Treasury bills and bonds and P8.26 billion worth of project loans.

Over the nine-month period, the government repaid a total of P924.9 billion worth of locally issued securities and P196.48 billion worth of foreign loans.

As of end-September, the single biggest chunk of domestic debt incurred rang up at P1.05 trillion worth of Treasury bonds.

Meanwhile, the biggest piece of the foreign debt pie was P191.97 billion worth of US dollar-denominated bonds.

Data from the Bureau of the Treasury show that from January to September, gross foreign borrowings were pegged at P434.6 billion. Gross domestic borrowings were recorded at P1.96 trillion.

At the end of September, the total outstanding debt of the Philippine national government decreased for the second month in a row, settling at P17.455 trillion.

The national debt stock was P13 billion less than the P17.468 trillion at end-August recorded at the end of August.

‘The continued decrease reflects the government’s sound fiscal discipline, strategic borrowing strategy and proactive liability management, supported by steady market conditions and robust domestic investor confidence,’ the Treasury said on Thursday.

The country’s financial obligations peaked at P17.564 trillion last July, as did domestic debt at P12.108 trillion. Funds from foreign lenders reached a new peak at P5.482 trillion in September.

The Treasury said that in September, total repayments exceeded new issuances. This offset the impact of an upward revaluation from peso depreciation.

This developed as Fitch Ratings warned that headwinds from American tariffs were already affecting the fiscal consolidation efforts of several governments in the Asia-Pacific region, including the Philippines.

The credit rating agency said policy responses to the weaker global demand and uncertainty would be key toward easing the impact of the headwinds on sovereign credit profiles.