In this paper, we explore performance of a simultaneous wireless information and power transfer (SWIPT) enabled cooperative decode-and-forward two-way relay network over Nakagami-m fading channels for 5G and beyond wireless communication systems. The considered cooperative network consists a relay and two source nodes with a direct link. For simultaneous information processing and energy harvesting, a power splitting (PS) protocol based SWIPT receiver is considered at the relay node. The energy constraint relay node harvests energy from the received radio-frequency signal and utilizes the harvested energy for information broadcasting. A selection combining technique is adopted at the destination node to combine both the received signals via relay and direct links. For performance analysis, the closed-form expression of the outage probability and throughput are derived over Nakagami-m fading channels. The impact of fading severity, PS factor, threshold data rate, and other system parameters are highlighted on the system performance. Accuracy of the obtained closed-form expressions are justified through Monte-Carlo simulations.