Boss Nigel Pearson, who was awarded the Championship manager of the month title for January after five wins and a draw in all competitions, has seen his side fall to losses against struggling Peterborough in the league and Huddersfield in the FA Cup in the last two weeks.
As a result, Nugent knows the next month could prove to be decisive, with Tuesday's match against Charlton their first challenge.
He told the Leicester Mercury: "It will be tough for us to win our games in hand but, if we can get the six points we need to pull them (Hull) back level pegging, we will be back up there.
"It is a massive month for us. We have a lot of games in February. January was just as packed and, hopefully, we can produce the same form as in January.
"Obviously, we are just outside automatic promotion now but with the games coming up, we can get back in there."