He also ran for Vice President as the running mate of Fidel V. Ramos in the 1992 national elections but lost also to Estrada, six years before the latter would defeat him again.
Lito was born on September 11, 1938 in Cebu City to Emilio Veloso Osmeña and Maria Luisa Renner.
He graduated with a Bachelor of Science degree in Business Administration from the University of San Carlos in Cebu.
[1] After the reorganization of local governments and the ratification of the 1987 Constitution, he ran for the position of governor for the province of Cebu in 1988 and won.
During his term as Governor of Cebu, Osmeña was able to increase the provincial budget to 1 billion pesos per annum.
After Fidel V. Ramos bolted the Laban ng Demokratikong Pilipino in 1992, he invited Osmeña to his new party Lakas Tao (later Lakas-NUCD) and offered to be his running mate in the May 11 elections.
[3] With Ismael Sueño as his running mate, he ran for the position of President in the 11-way presidential election but lost to Joseph Estrada.
Lito, as he was often called, was married to Annette Versoza and had three children, namely Mariano, Maria Luisa, and Emilio III.
He had eight grand children – Annette, Santino, Marie, Katrien, Alexander, Emilio IV, Illeana, and Julia.