The 19-year-old forward has been heavily linked with a move to the Premier League in the ongoing transfer window.
The teenage striker is wanted at several Premier League sides but Forest are the ones who are really pushing to sign him.
The Midlands club are claimed to be interested in offering £15m to get their hands on Nascimento this summer.
But it has been claimed that the forward is planning to stay at Botafogo beyond the end of the transfer window.
Nascimento wants to win the title in his homeland and is not in any rush to leave Botafogo this summer.
He could consider a move in January and there is expected to be more Premier League interest in him.
Nottingham Forest were open to either getting him involved this summer or loaning him out to Olympiacos in Greece.
But it seems the 19-year-old forward will not be moving on from the Brazilian outfit for the moment.