The 31-year-old striker sustained a groin injury in Derby’s 4-0 defeat at Brentford on Good Friday.
He sat out the 1-1 draw at home to Huddersfield Town on Easter Monday and has been making progress in his rehabilitation work.
The frontman was due to train with the Derby squad on Friday but manager Gary Rowett says it remains ‘touch and go’ as to whether he will play any part at Hillsborough.
If Nugent doesn't make the game against the Owls, it looks likely that Darren Bent will keep his place in attack.
He told RamsTV
: “Nuge is touch and go; he didn’t train before Friday but we’ll see how he is.
“He was due to train on Friday and we’ll see how he reacts. If everything is alright, then there’s a good chance he will be involved.”
Other than Nugent, Rowett has no fresh injury concerns for the game against the Owls.
Striker Nick Blackman and defender Craig Forsyth have been nursing knee injuries for long spells of the season and, despite returning to training, they won’t be in contention.
“We don’t have any other injury concerns from Monday’s game and have a near full squad to choose from,”
“I don’t think there will be that many significant changes to what we do.
“Nick Blackman and Craig Forsyth have been training, not fully, but they are making good progress.”