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1.
An abbreviated form of the phrase "I'm not going to do it".
Reporter: "Mr. President are you going to drop nuclear weapons on Karachi Pakistan if they don't turn over Bin Laden immediately?"
President: "Nagada, Greg. Wouldn't be prudent at this juncture."
by Oferone August 14, 2007
 
2.
Another word for saying "No"
Man 1: Ayye bruh you wanna take me to my girlfriend's house?

Man 2: Nagada, I don't got no gas bro
by Anomynous12345 March 26, 2012