This paper presents the nickel-cobalt nanoprickly particles (PNi2Co3) composited with graphene nanosheets (GNs) and carbon nanotubes (CNT), prepared via the one-pot hydrothermal method (PNi2Co3/GNs/CNT), as an efficacious nonprecious metal bifunctional electrocatalyst for both oxygen evolution and reduction reactions (OER/ORR). The study employs a comprehensive methodology, incorporating cyclic voltammetry (CV), electrochemical impedance spectroscopy (EIS), linear sweep voltammetry (LSV), X-ray photoelectron spectroscopy (XPS), X-ray diffraction (XRD), field emission scanning electron microscopy (FESEM), and Brunauer-Emmett-Teller (BET) analysis to characterize and assess the materials and electrochemical properties investigated in the article. The primary objective was to successfully prepare a bifunctional electrocatalyst, and the PNi2Co3/GNs/CNT material achieved this goal. It exhibited superior OER activity, durability, and resistance to crossover effects, by an overpotential (eta) of 480 mV and a Tafel slope of 61 mV dec-1, significantly higher than those obtained for RuO2 nanoparticles (eta = 970 mV, Tafel slope = 85 mV dec-1). A similar trend was observed for ORR, where the PNi2Co3/GNs/CNT displayed high activity with an n = 3.93, close to the activity of a Pt/C (20 wt%), commercial catalyst with n = 4. Careful analysis of the EIS results via suitable models, in conjunction with Tafel data, revealed that the enhanced activity originates mainly from two factors: (a) the large surface area of the Ni-Co nanoprickly alloy and graphene sheets, where the CNTs (as a spacer) helped graphene nanosheets to avoid restacking and decreasing the surface area, and (b) the synergistic effect between Ni-Co nanoprickly and carbon components (GNs and CNT) of the composite.