Drilling of NiTi alloys under two lubricant-coolant strategies; namely flood and minimal quantity nanolubricant; two types of carbides drills, and three cutting speeds was investigated. Progressive tool wear, tool-life, drilling thrust force, surface finish quality, and dimensional accuracy were considered. Experimental results suggest that the application of minimal quantity nanolubrications with coated carbide drills outperformed the flood lubrications with uncoated carbide drills. These results were pronounced for cutting speed of 10–20 m/min, whereas, accelerated tool wear, high thrust force, and low tool life were experienced for 30 m/min cutting speed. Despite of some promising results obtained from the supply of minimal quantity nanolubricants, this approach was found to be ineffective towards improving surface roughness and hole diameter accuracy.