In an epoch dominated by escalating concerns over climate change and looming energy crises, the imperative to design highly efficient catalysts that can facilitate the sequestration and transformation of carbon dioxide (CO2) into beneficial chemicals is paramount. This research presents the successful synthesis of nanofiber catalysts, incorporating monometallic nickel (Ni) and cobalt (Co) and their bimetallic blend, NiCo, via a facile electrospinning technique, with precise control over the Ni/Co molar ratios. Application of an array of advanced analytical methods, including SEM, TGA–DSC, FTIR-ATR, XRD, Raman, XRF, and ICP-MS, validated the effective integration and homogeneous distribution of active Ni/Co catalysts within the nanofibers. The catalytic performance of these mono- and bimetallic Ni/Co nanofiber catalysts was systematically examined under ambient pressure conditions for CO2 hydrogenation reactions. The bimetallic NiCo nanofiber catalysts, specifically with a Ni/Co molar ratio of 1:2, and thermally treated at 1050 °C, demonstrated a high CO selectivity (98.5%) and a marked increase in CO2 conversion rate—up to 16.7 times that of monometallic Ni nanofiber catalyst and 10.8 times that of the monometallic Co nanofiber catalyst. This significant enhancement in catalytic performance is attributed to the improved accessibility of active sites, minimized particle size, and the strong Ni–Co–C interactions within these nanofiber structures. These nanofiber catalysts offer a unique model system that illuminates the fundamental aspects of supported catalysis and accentuates its crucial role in addressing pressing environmental challenges.