Sen. Benigno Simeon “Noynoy” Aquino III called Wednesday for another round of “people power” as he announced he would run for president to continue his mother's work. Vowing to fight against corruption, Benigno Aquino said he would be a leader for all sectors of society and not just the rich. “I will be there because of the people, I will stay there because of the people and hopefully I will be true to my word to serve the people,” Aquino, 49, told a crowd of cheering supporters as he declared his bid. Aquino made the announcement at Manila's historic Club Filipino, where his mother “Cory” was sworn in as president in 1986 after leading the “people power” revolution that ended dictator Ferdinand Marcos's 20-year rule. His plans have led to two other opposition presidential hopefuls -- Sen. Manuel Roxas and Makati Mayor Jejomar Binay to stand down and offer their support. This leaves Aquino with the task of getting deposed president Joseph Estrada and Sen.Manny Villar, the two aspirants currently leading in the polls, to fall behind him to ensure the opposition vote is not split. The ruling coalition of President Gloria Arroyo, who is barred by the constitution from seeking a new six-year term, has yet to announce its candidate ahead of the November 30 deadline for filing candidacies. Aquino's Liberal Party has been a fierce critic of Arroyo, alleging widespread corruption in her administration. Arroyo's spokesman Lorelei Fajardo conceded Aquino has emerged a strong contender for the presidency, while calling him a “welcome addition to the race”. But Estrada, the 72-year-old former movie star who spent time in prison after he was toppled in a bloodless 2001 military coup and convicted of corruption, said the opposition should let the electorate decide. The choice was not for “the elites and the bourgeois” to make, he said, in a dig at the Aquino camp. Binay, however, said he was giving way to Aquino “to pave the way to uniting the opposition.” Aquino said he would rely on the help of ordinary Filipinos to become president, just as they had propelled his mother to power. “The reason why I am on this path is because I believe the public will support and help me in the campaign,” he said. “I want to make democracy work not just for the rich and the well-connected, but for everybody.” He also promised to give the nation “closure” by going after stolen wealth controlled by the Marcos family. Although Aquino has been a member of parliament for 11 years, he said he only began seriously considering a presidential bid after seeing the massive outpouring of support following his mother's death from cancer last month. Aquino called on Filipinos to recall his mother's achievements when they considered who they wanted to be their next president. “During my mother's time, she was not corrupt. Even the policeman on the street had second thoughts of being corrupt,” he said. Arroyo's allies in the House of Representatives said Wednesday Aquino's formal entry into the presidential race will not have much effect on the administration party Lakas-Kampi-CMD's own political plans for 2010. In the same breath, they also belittled the effect of the breakaway move of Lakas party “originals” led by former Speaker Jose de Venecia on the administration, which has yet to pick its own standard bearer for 2010. While welcoming Aquino's presidential bid, House Speaker Prospero Nograles, Lakas-Kampi-CMD executive vice chairman, said it will have a bigger impact on the opposition more than the administration party. “Frankly this won't affect our Lakas-Kampi party as we look forward to more and more opposition parties fielding their own presidential candidates. Maybe this will give our people a wider range of alternatives,” Nograles said in a text message. Nograles said the Lakas-Kampi-CMD merger “remains solid and united despite the media noise created by former Speaker Joe De Venecia and his already ‘retired and inactive' former Lakas renegades whose names may long have been removed from our list of active members as they have not been attending any of our party meetings in the past.”