MANILA – Former Ako Bicol party-list congressman Elizaldy Co has directly linked President Ferdinand “Bongbong” Marcos Jr. and Leyte’s Cong. Ferdinand Martin Romualdez to the P100-billion worth of projects added during the bicameral conference committee’s deliberations on the proposed 2025 national budget.
In a video released on Friday afternoon, Co urged the public to hear him out, stressing that he intends to present documents and proof to support his claims.
“Para sa bawat Pilipino, alam ko na buo ang galit ninyo sa aking. Nauunawaan ko rin kung bakit, lalo na at malaki ang halagang nakataya. Pero bago kayo humusga, hayaan ninyong ipaliwanag ko ang buong katotohanan,” he said.
The former House appropriations chair said he remained silent initially because he was told not to return to the Philippines.
“Matagal akong hindi nagsalita dahil may direktang utos sa akin. Huwag nang bumalik ng Pilipinas at manahimik na lamang,” he said.
According to Co, he flew abroad on July 19, 2025, for medical reasons and had intended to return after Marcos’ State of the Nation Address. But he claimed he was blocked from coming home.
“Habang papauwi na ako, tinawagan ako ni dating Speaker Martin Romualdez at sinabihan, ‘Stay out of the country. You will be well taken care of as instructed by the President… kaya’t hindi ako bumalik,” he said.
He added that he now believes he was pushed out to be made the fall guy.
“Ang hindi ko alam, ang ibig pala nilang sabihin sa ‘aalagaan ka namin’ ay gagamitin ako bilang panakip-butas sa kanilang kampanya laban sa korapsyon. Ginawa nila akong poster boy ng kanilang sariling kasinungalingan,” he said.
Co claimed he is now ready to disclose the full story: “May resibo, may ebidensya, at may pangalan.”
He said the alleged budget insertions began when Budget Secretary Mina Pangandaman reportedly relayed to him instructions from the President.
“Ang sabi niya, katatapos lang ng meeting nila ni Pangulo at may instructions na mag-insert o magpasok ng P100 billion worth of projects sa Bicam… you can confirm with Usec. Adrian Bersamin,” Co said.
Co said Bersamin confirmed the directive. He then briefed Romualdez, who allegedly responded, “What the President wants, he gets.”
Days later, Co said he attended a meeting in Malacañang with Romualdez, Pangandaman, Bersamin, and Undersecretary Jojo Cadiz, where the list of projects amounting to P100 billion was handed to him.
“During the meeting binigay po ni Usec. Adrian Bersamin ang listahan of (projects) worth P100 billion… ang sagot niya galing kay PBBM mismo at binigay niya ito mula sa brown leather bag,” Co said.
He also claimed this was the same type of bag he had seen the President insisted on keeping during a 2022 trip to Singapore.
Co said he later asked whether only P50 billion could be placed under programmed funds and the rest classified as unprogrammed appropriations. But he claimed the President’s position was firm.
“Pagkatapos ng isang araw tinawagan ako Sec. Mina at sinabi ang mensahe ng Pangulo, ‘ipasok ninyo yan’… ang utos ng hari hindi pwede ang mabali,” he narrated.
Co said he informed Romualdez of the instruction, adding that the former Speaker told him, “Wala tayong magagawa.”
He questioned Marcos’ statements distancing himself from the national budget.
“Kaya po nagtataka ako kung bakit sinasabi ni Pangulo na hindi niya makilala ang budget samantalang lahat na binawas at dinagdag… ay humihingi ng approval sa kanya si Sec. Mina Pangandaman,” he said.
Co said the video he released covers only the first installment of his exposé, with more details to follow./PN
