The National Institute of Business Management (NIBM) was established in 1968 under the purview of the Ministry of Industries and Scientific Affairs in collaboration with the UNDP, with the ILO functioning as the executing agency. On first June 1976, the Institute was incorporated as the National Institute of Business Management. Since its establishment, the NIBM has aimed at achieving excellance in the programmes it offers to It's clients who are drawn from both the public and private sectors of Sri Lanka, as well as those from overseas countries who availed themselves of its services.
In May 2004 the NIBM was brought under the purview of the Ministry of Skills Development, Vocational and Technical Education.

The Main objectives of the Institute as spelt out in the NIBM (amendment) Act of 1991 are as follows

• To provide Business Management Education and Training.
• To provide Management Consultancy and Advisory Services.
• To facilitate improvement of Productivity.

These objectives are achived through the following divisions established by the Institute

• The Productivity and Management Development Division.
• The Management Information Systems Division.