Harry Redknapp is willing to let him go out on loan and there could be the chance of a permanent transfer in the summer if all works out. Nugent is just recovering from a groin operation that would probably see him miss the game against Southampton on Saturday if the move is completed by then.
Redknapp told BBC Radio Solent: "It should be tied up in the next few days. It's a good deal for us financially too which is important.
"(Portsmouth chief executive) Peter Storrie has been dealing with their chairman (David Sheepshanks), and they have made a good offer. Lots of clubs have asked about taking David, but Ipswich are the only ones to come forward with a decent offer.
"David is interested in going, so we're just waiting for his injury to clear up, which should be in the next few days."