The 20th FAP Awards ceremony, presented by the Film Academy of the Philippines (FAP), took place on March 23, 2002, at the UP Theater. Seen as the Philippine counterpart to the Academy Awards, the FAP Awards honors films released in 2001. Fernando Poe Jr., labelled as the King of Philippine Movies, accepts the Golden Reel Award. Meanwhile, industry veterans Gloria Romero and Nida Blanca both receive the Lifetime Achievement Award. This is a posthumous recognition for Nida Blanca, who died on November 7, 2001.