The present study reports the geometry, electronic structure, growth behavior and stability of neutral and ionized nickel encapsulated germanium clusters containing 1-20 germanium atoms within the framework of a linear combination of atomic orbital density functional theory (DFT) under a spin polarized generalized gradient approximation. In the growth pattern, Ni-capped Gen and Ni-encapsulated Gen clusters appear mostly as theoretical ground state at a particular size. To explain the relative stability of the ground state clusters, variation of different parameters, such as average binding energy per atom (BE), embedding energy (EE) and fragmentation energy (FE) of the clusters, were studied together with the size of the cluster. To explain the chemical stability of the clusters, different parameters, e.g., energy gap between the highest occupied and lowest unoccupied molecular orbitals (HOMO-LUMO gap), ionization energy (IP), electron affinity (EA), chemical potential (μ), chemical hardness (η), and polarizability etc. were calculated and are discussed. Finally, natural bond orbital (NBO) analysis was applied to understand the electron counting rule applied in the most stable Ge10Ni cluster. The importance of the calculated results in the design of Ge-based superatoms is discussed.