He graduated from Azerbaijan Technical University in Baku.
He worked many years in construction and was the executive officer of a renovation and construction union until April 1992. On April 8, 1992 Bahmanov was appointed the Head of Executive Power of Shusha. Since Shusha was the city with majority Azerbaijani population, its executive officer was chosen to represent the whole Azerbaijani community of Karabakh.
He subsequently represented the Azerbaijani community of Nagorno-Karabakh region in peace talks held by Organization for Security and Co-operation in Europe Minsk Group.
As the leader of Azerbaijani community of Karabakh, he believed public diplomacy between Azerbaijan and Armenia would not yield any substantial results and that only after the return of Azerbaijani community to their homes in Karabakh would resolve its final status. Bahmanov died on September 13, 2008 in his office while holding a meeting.
The office of the leader of Azerbaijani Community of Nagorno-Karabakh remained unoccupied until February 27, 2009 when Bayram Safarov was appointed the Head of Executive Power of Shusha, subsequently filling the office of leader of Azerbaijani Community of Nagorno-Karabakh too.
On March 24, 1992 he was recognized as an interested party from the Azerbaijani side of Karabakh by the Organization for Security and Company-operation in Europe (Organization for Security and Co-operation in Europe).
The status of the Azerbaijani Community of Nagorno-Karabakh Social Union, co-founded by Nizami Bahmanov, member of Azerbaijani Parliament, Havva Mammadova and Elman Mammadov, was formally confirmed by the Ministry of Justice of Azerbaijan in September 2006. He was also a member of State Commission on POWs, Missing and Citizens taken hostage.