The former England international has begun to enjoy life at Fratton Park after a difficult start to life on the south coast but with Pompey still strapped for cash they could be forced to sell him in January.
Nugent's contract expires in the summer and Wigan, along with Blackpool, are looking to capitalise by making a cut price bid for the striker in January.
However, Cotterill has said he is determined to keep him and will try to thwart the Latics plans by extending his contract.
"As far as Nuge's contract goes, that one is not with me," Cotterill told The News.
"I have made no secret that I want him to stay, definitely.
"It is out of my hands and I would hope that has been a conversation others have had by now. I just hope it will be sorted and Nuge will be staying with us.
"I want him to remain here, for sure."