Northern Mindanao has two billionaire cities in Cagayan de Oro and Iligan based on the 2008 Annual Financial Report by the Commission on Audit (link I posted in an earlier post).
As shown on my summary list above, Iligan was still below the billionaire club the previous year but finally attained it in 2008. Click the image above for larger view.
Sadly, the two cities of Bukidnon in Malaybalay and Valencia, which are ranked 3rd and 4th in 2007, did not submit their financial reports for 2008 but I’m assuming they still hold on their spots since 5th ranked Gingoog earned less than the 2007 income of both cities.
The cities in Misamis Occidental province ranked next with Ozamis ahead but Tangub is slowly catching up with the provincial capital of Oroquieta.
The newest city in the region, El Salvador earned P169,724,000 in 2008. I think this figure will rise in the next 2 or 3 years when the city finally fully operates as a city.
In my previous post, Opol and Tagoloan are nearing the P100 million income but Bukidnon has three (3) municipalities earning at least P100 million (based on 2007 data since there was no submission for 2008) with Quezon leading the pack with P150,005,000, followed by Maramag (P110,667,000) and finally Manolo Fortich (P108,930,000). Just under the P100 million mark is Talakag with P97,512,000. Quezon hosts one of the largest Sugar Refineries in the country with Busco. Maramag hosts Pulangui Hydroelectric Power Plant, another sugar refinery (Crystal Sugar) and dozens of sugarcane plantations. Manolo Fortich is the home base of Del Monte Philippines, Inc.
Lala is tops in Lanao del Norte with P86,540,955 followed by Kapatagan (P71,342,181) and Tubod (P68,587,053). Lala is known as a trading center in the province while Kapatagan is a major crossroad if you’re travelling to Pagadian-Zamboanga or Ozamis. Tubod is the capital.
Bonifacio is the leading municipality in Misamis Occidental with P54,307,440 followed by Plaridel (P52,923,205) and Jimenez (P50,680,008). I guess none of them seems closer to become a city.
Mambajao, Camiguin’s capital is earning P59,026,646.
So who do you think ‘s next to become a city?