He has spent two years at Fratton Park after former coach Harry Redknapp paid Preston North End £6million for his services.
His time at the south coast has not been successful for Nugent, but with Pompey entering the new season in administration, under a transfer embargo and with only six senior players to their name he has suddenly become central to their plans.
"I'm happy to be here. There hasn't been any offers for me, so I'm back here to enjoy myself and my football," he told The News.
"I've sat down with the gaffer and we have had a chat. I was first in on the first day of pre-season. I wanted to make a good impression.
"We had a chat and he told me the plans for the club. It sounded good and I want to be a part of it. I'm a Portsmouth player and looking forward to the season."