The next generation energy demands require to address the alternative energy resources and as well the energy storage technologies. The electrochemical supercapacitors and lithium ion batteries prove to be attractive devices to overcome the faced community challenges. There is a need to develop an innovative material owing high surface area with higher electrical & ionic conductivity and low diffusion distance for electrochemical energy storage electrodes. To this end, a unique electrode material is developed with these admirable properties for energy storage applications towards both directions such as, electrochemical supercapacitors and an anode material for lithium ion batteries. Nanostructured materials based on metallic binary oxides of cobalt and iron embedded in porous carbon lawn with inherent nitrogen doping are synthesized by dry-chemistry calcined process. The success of synthesis is later proved by materials characterizations. The magnetic nature of present electrode material with correlation of crystallite and morphological analysis revealed the signs of their excellence in energy storage behaviour. The testing of electrode material for electrochemical supercapacitors and lithium ion batteries depicted enhance performance with durable and long-run recycled capabilities.