Economy
LOVE DIVING: DOT launches Philippine Dive Experience in Anilao, Batangas
Highlighting the Philippines’ recognition as the World’s Leading Dive Destination for the sixth consecutive year at the World Travel Awards, Tourism Secretary Christina Garcia Frasco led the dive-focused initiative under the DOT’s Philippine Experience program which brought together high-ranking diplomats including South Korean Ambassador to the Philippines H.E. Lee Sang Hwa, Bangladesh Ambassador H.E F.M Borhan Uddin, Indian Ambassador H.E. Harsh Kumar Jain, Lao-PDR Ambassador H.E. Sonexay Vannaxay, Malaysian Ambassador H.E. Malik Melvin, New Zealand Ambassador H.E. Catherine McIntosh, Sri Lanka Ambassador H.E Chanaka Talpahewa, Thailand Ambassador H.E. Tull Traisorat, Vietnam Ambassador H.E. Lai Binh, as well as diplomatic and consular corps from Cambodia, China, France, Indonesia, and the United States of America.
They were joined by leaders in the dive and tourism sectors, heads of tourism associations, dive operators, and certification agencies at the gathering, which celebrated the Philippines’ unparalleled marine biodiversity and its potential to attract global attention.
In her keynote address, Secretary Frasco underscored the event’s alignment with President Ferdinand Marcos, Jr.’s vision for tourism transformation. “At the heart of the Philippine Dive Experience is our President’s vision of transformation for tourism. We’re not interested in recovering only what was lost, but rather in transcending to the rightful place that the Philippines deserves in the global community of tourism nations. A country that prioritizes the sustainability of its destination and the regeneration of its resources while it seeks to reintroduce itself to the world from the strength of its identity, heritage, and culture.”
Anilao: A Gateway to Global Dive Tourism
Anilao, a world-renowned diving destination, was the launch point for the Philippine Dive Experience tourism circuit. Secretary Frasco highlighted Anilao’s strategic role and its connection to the globally significant Verde Island Passage. “Starting here in Anilao, Batangas, a world-renowned diving destination, we shine a spotlight on the Verde Island Passage. This globally significant corridor is a haven for marine life and a dream destination for underwater photographers.”
Certified divers explored Anilao’s vibrant underwater landscapes, including the LOVE Reef—an artificial reef created through community-driven conservation efforts. Non-divers were introduced to the underwater world through guided scuba experiences, offering an immersive glimpse into the Philippines’ marine treasures.
A coastal cleanup at Anilao Pier emphasized the DOT’s commitment to sustainable tourism. Secretary Frasco remarked. “On the sustainability of dive tourism, we have worked with our partners both from the private sector, our regional offices, and our stakeholders from around the world to continue interest for Philippine diving, as well as to inject education and importance on the conservation of our marine resources.”
Enhancing Dive Tourism Infrastructure and Training
During the event, Secretary Frasco announced key initiatives to boost dive tourism, including the installation of hyperbaric chambers at strategic dive sites to ensure diver safety and meet international standards. She also highlighted the success of the Filipino Brand of Service Excellence (FBSE) program, which has trained over 262,000 tourism professionals nationwide, including more than 10,000 from the CALABARZON region.
These efforts come as the Philippine dive industry continues to thrive, contributing ₱73 billion in revenue in 2023 and playing a crucial role in sustainable economic growth, livelihood creation, and environmental conservation.
“To our esteemed friends from the diplomatic community, our partners, all the delegates and participants, we invite you to become ambassadors for Philippine diving. Together, we will share to the world the beauty of our dive destinations and to ensure the treasures of our seas remain a source of pride and prosperity for generations to come,” Secretary Frasco said, urging attendees to champion the country’s underwater wonders.
Recognition for the Philippine Dive Industry
The DOT celebrated a banner year for Philippine diving, earning the title of World’s Leading Dive Destination for the sixth consecutive year at the World Travel Awards. The country also received accolades such as Best Dive Destination at the TripZilla Excellence Awards and Best Diving Destination at the Diving Resort Travel Show.
Batangas Governor Hermilando Mandanas, represented by Provincial Administrator Wilfredo Celis, welcomed the Philippine Dive Experience delegates. “Batangas is very pleased to be a host to all of you in the next two days. I’m sure you will find your experience as pleasant as possible. And again, we’d like to thank the Department of Tourism for its continued support to the province.”
Mabini Mayor Nilo Villanueva, through Tourism Officer Ian Bueno, expressed gratitude for hosting the inaugural Philippine Dive Experience. “Our community takes pride in our natural treasures, and we are excited to share them with you. This event is not just about exploring the depths of our oceans, but also about fostering international cooperation and promoting sustainable tourism.”
A Sustainable and Immersive Dive Experience
The second day of the Philippine Dive Experience will feature a coastal cleanup at Anilao Pier, with participants—including members of the diplomatic corps and local volunteers—working together to protect marine environments. This will be followed by a cultural immersion via the Taal Heritage Tour, highlighting Batangas’ rich history and artistry, and offering visitors a deeper appreciation of the province’s vibrant cultural identity.
Hashtag: #DOT
The issuer is solely responsible for the content of this announcement.
By Adedapo Adesanya
The NASD Over-the-Counter (OTC) Securities Exchange further appreciated by 0.23 per cent on Thursday, April 23, with the Unlisted Security Index (NSI) adding 8.99 points to close at 3,969.96 points against the previous day’s 3,968 points.
The rise in the share price of Central Securities Clearing System (CSCS) Plc by N2.86 to N69.34 per unit from N66.48 per unit raised the market capitalisation of the NASD bourse by N5.38 billion to N2.380 trillion from N2.375 trillion.
Yesterday, there were two price losers, led by Food Concepts Plc, which lost 29 Kobo to sell at N2.65 per share versus N2.94 per share, while UBN Property Plc dipped by 22 Kobo to N2.03 per unit from N2.25 per unit.
During the session, the volume of securities traded declined by 97.9 per cent to 451,522 units from 21.5 million units on Wednesday, the value of securities depreciated by 52.32 per cent to N23.6 million from N49.5 million, and the number of deals depreciated by 3.6 per cent to 27 deals from 28 deals.
At the close of business, Great Nigeria Insurance (GNI) Plc remained the most active stock by value on a year-to-date basis with 3.4 billion units valued at N8.4 billion, followed by CSCS Plc with 59.5 million units exchanged for N4.0 billion, and Okitipupa Plc with 27.8 million units traded for N1.9 billion.
GNI Plc also closed the day as the most traded stock by volume on a year-to-date basis with 3.4 billion units worth N8.4 billion, trailed by Resourcery Plc with 1.1 billion units transacted for N415.7 million, and Infrastructure Guarantee Credit Plc with 400 million units sold for N1.2 billion.
By Adedapo Adesanya
Fresh foreign exchange (forex) demand pressure saw the Naira depreciate against the United States Dollar in the Nigerian Autonomous Foreign Exchange Market (NAFEX) on Thursday, April 22, by N5.46 or 0.4 per cent to trade at N1,353.91/$1 compared with the preceding day’s value of N1,348.45/$1.
It was the same outcome for the local currency in the official market after it depreciated against the Pound Sterling by N4.13 to close at N1,825.88/£1, in contrast to the preceding session’s N1,821.75/£1, and against the Euro, it dropped 72 Kobo to finish at N1,582.72/€1 versus N1,582.00/€1.
But the Nigerian Naira appreciated against the US Dollar at the GTBank FX desk by N2 during the session to quote at N1,361/$1 compared with Wednesday’s closing price of N1,361/$1, and at the parallel market, it closed flat at N1,375/$1.
FX Pressure came as data showed that NFEM interbank turnover was N28.117 million, lower than the N66.084 million recorded the previous day.
Concerns over liquidity pressures, policy transparency, and confidence in Nigeria’s FX market continue to grip the market while the country’s foreign reserve declines further, even as the Central Bank of Nigeria (CBN) recently said that the recent decline in Nigeria’s external reserves should not be a cause for concern.
Global developments also played a significant role, as rising geopolitical tensions boosted demand for the US Dollar, further weakening emerging market currencies, including the Naira.
As for the cryptocurrency market, there was a mixed outcome as traders reacted to rising geopolitical tensions from the Iran war and fresh inflation data from Japan.
Japanese inflation ticked higher in March, stoking expectations that the Bank of Japan may soon signal rate hikes, which could strengthen the yen and unsettle global risk assets.
The Iran conflict has disrupted oil flows through the Strait of Hormuz, raising energy costs and inflation risks worldwide and potentially complicating efforts by the Federal Reserve to cut interest rates.
Ethereum (ETH) declined by 1.8 per cent to $2,316.53, Bitcoin (BTC) lost 0.6 per cent to sell at $77,935.53, Solana (SOL) fell by 0.5 per cent to $85.67, and Binance Coin (BNB) dropped 0.4 per cent to sell for $634.85.
However, Dogecoin (DOGE) appreciated by 1.4 per cent to $0.0976, Ripple (XRP) grew by 0.7 per cent to $1.43, Cardano (ADA) expanded by 0.6 per cent to $0.2493, and TRON (TRX) improved by 0.2 per cent to $0.3279, while the US Dollar Tether (USDT) and the US Dollar Coin (USDC) traded flat at $1.00 each.
By Aduragbemi Omiyale
The resilience shown by Nigerian Breweries Plc in the 2025 fiscal year, despite a volatile macroeconomic environment, which consumed several businesses, has not got without notice.
Shareholders of the brewery giant applauded the board and management for the strong recovery and improved profitability recorded in the year.
At the company’s 80th Annual General Meeting (AGM) on Wednesday, April 22, 2026, in Lagos, they attributed these achievements to disciplined cost management and a significant reduction in finance expenses.
“We are proud of how the company has withstood the ups and downs of a challenging environment. The return to profitability and the reversal of the negative cash position recorded in the previous two financial years are commendable,” a member of the Noble Shareholders Association, Mr Owolabi Opeyemi, said at the gathering.
Also, the immediate past Secretary of the Independent Shareholders Association of Nigeria (ISAN), Mr Eke Emmanuel, noted that the company’s resilience reflects strong leadership and a sound strategic direction.
“It is good news that we have been here for 80 years. There is no reason why we will not be here for the next 80 years with what we have achieved. To return to this level of profitability and cash position shows the Board has done an enormous amount of work,” he said.
Addressing investors at the AGM, the board chairman, Mrs Juliet Anammah, expressed confidence that the company is firmly on a recovery path following the net losses recorded in the past two years due to macroeconomic pressures and fiscal reforms.
She thanked shareholders for their continued support and reaffirmed that the company will build on its 2025 performance as it accelerates growth ambitions.
“We have a solid foundation built over eight decades, anchored on a strong portfolio of brands, an extensive nationwide sales and supply chain network, ongoing digital transformation, and most importantly, our people. These strengths remain critical to sustaining our leadership position,” the former chief executive of Jumia Nigeria said.
Ms Anammah also addressed the company’s dividend position, noting that the decision not to declare a dividend reflects the need to rebuild retained earnings impacted by prior macroeconomic shocks, particularly foreign exchange-related losses.
“We recognise the importance of dividend payments to our shareholders and sincerely appreciate your continued understanding. While we are not declaring a dividend at this time due to negative retained earnings, we are working diligently to restore the company’s financial position and return to dividend payments as soon as it is sustainable to do so,” she added.
She further noted that the board remains vigilant to external risks, including the Middle East crisis and broader macroeconomic challenges, which may impact the pace of improvement in the 2026 financial year.
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