We report the dimerization and oligomerization of ethylene using bis(phosphino)boryl supported Ni(II) complexes as catalyst precursors. By using alkylaluminum(III) compounds or other Lewis acid additives, Ni(II) complexes of the type (^RPBP)NiBr (R = tBu or Ph) show activity for the production of butenes and higher olefins. Optimized turnover frequencies of 640 mol_ethylene·mol_Ni^–1·s^–1 for the formation of butenes with 41(1)% selectivity for 1-butene using (^PhPBP)NiBr, and 68 mol_ethylene·mol_Ni^–1·s^–1 for butenes production with 87.2(3)% selectivity for 1-butene using (^tBuPBP)NiBr, have been demonstrated. With methylaluminoxane as a co-catalyst and (^tBuPBP)NiBr as the precatalyst, ethylene oligomerization to form C₄ through C₂₀ products was achieved, while the use of (^PhPBP)NiBr as the pre-catalyst retained selectivity for C₄ products. Our studies suggest that the ethylene dimerization is not initiated by Ni hydride or alkyl intermediates. Rather, our studies point to a mechanism that involves a cooperative B/Ni activation of ethylene to form a key 6-membered borametallacycle intermediate. Thus, a cooperative activation of ethylene by the Ni–B unit of the (^RPBP)Ni catalysts is proposed as a key element of the Ni catalysis.