Born in Scotland around 1780, he arrived in Montreal in 1792 after becoming a seaman at an early age and headed west to the Niagara Peninsula.
In 1802, Clark returned to Scotland, leaving Nichol to run the business; this caused him financial hardship.
In 1808, he took over the operation of several mills, a distillery and other businesses in Woodhouse Township; he also secured contracts supplying the British garrisons in the region.
During the later sessions of 6th Parliament of Upper Canada, Nichol acted as government house leader.
He was re-elected in 1820; he helped establish a commission to improve transportation within the province and supported a proposal by Britain to united Upper and Lower Canada.