January 2 – The tailings dam breaks at Number Two tailings storage facility of Philex Mining Corporation's Padcal mine in Benguet Province, releasing 80 million cubic metres of effluent, probably the largest tailings spill in history.[1]
May 25 – In PepsiCo's promotion Number Fever, the winning number "349" is announced with a million-peso prize; however, an error causes more than 600,000 winners; several violent incidents followed. By following year, about 22,000 people filed more than five thousand lawsuits against Pepsi, outnumbering those against former Pres. Ferdinand Marcos and Imelda Marcos. In 2006, a court would rule in favor of Pepsi.[4][5]
Subic Bay Metropolitan Authority is formed by virtue of Republic Act 7227, known as the Bases Conversion and Development Act of 1992.
Subic Bay Naval Base closes as it is turned over to the local government, with a last batch of American soldiers finally leaving Naval Air Station Cubi Point and returning to the US, ending its military presence in the country.[9]
As per Executive Order No. 292, chapter 7 section 26, the following are regular holidays and special days, approved last July 25, 1987.[10] Note that in the list, holidays in bold are "regular holidays" and those in italics are "nationwide special days".
February 21 – Associated Broadcasting Company (ABC 5) resumes its radio-television operations with their slogans for station ID Come Home to ABC until the last day of July and Catch Up with Today TV in the first day of August.
July 25–August 9 – The Philippines compete at the 1992 Summer Olympics in Barcelona, Spain. At least 26 competitors, 24 men and 2 women, took part in 29 events in 9 sports.[11] Stephen Fernandez and Beatriz Lucero, both win a bronze medal in taekwondo, but their medals are not included in the official medal tally as taekwondo was only a demonstration event.
August 24–29 – The team representing the Zamboanga City Little League wins the International Championship of the 1992 Little League World Series held in Pennsylvania. Later discovered that the team violated age and residency requirements and Little League stripped them of their title.[12]
^J., Davide (August 28, 2000). "PEOPLE VS. ABELLA". Digest | Philippines Law Made Easy - Decisions, Laws, Case Digests, Reviewers, Bar Exams, Legal Dictionary. Archived from the original on January 20, 2021. Retrieved May 14, 2021.
^Cabico, Gaea Katreena (August 13, 2019). "The Anti-Subversion Law, explained". The Philippine Star. Archived from the original on December 4, 2020. Retrieved April 21, 2021. In 1992, nearly three decades ago, Ramos signed Republic Act 7637, which repealed the Anti-Subversion Act.
^Albor, Teresa (November 24, 1992). "US Leaves Toxins At Subic Navy Base". Christian Science Monitor. Archived from the original on September 26, 2015. Retrieved April 21, 2021. The 40,000-acre Subic Bay naval complex, which Washington will turn over to Manila today, had been operated by the US for almost a century until the Philippine Senate rejected a new agreement and then-President Corazon Aquino requested full US withdrawal by the end of December 1992.