Yes Arthur, it's a privilege only available for returning Philippine Citizens.
My wife does not have a Phils passport, only British passport. But she is a dual citizen having re-aquired her Phils citizenship just after completing her British Citizens ceremony.
When re-acquiring Phils citizenship by Oath Taking at the Embassy you are presented with a naturalisation certificate (complete with the ever important Red Ribbon and Seal) . This certificate can be presented to Phils immigration together with your British Passport to ensure Balikbayan 1 year stamps for you both. Don't need to have phils passport.
My wife will get one next time we visit London. Whenever that will be.![]()