The 27-year-old Portuguese – signed for £27.5million last summer before various bonuses – has had his ups and downs during his first season in English football.
But he starred in the victory over Sheffield United at the weekend, making a vital block to deny Enda Stevens and starting off the move which led to Willian Jose's winner.
And Nuno has hailed Semedo's work ethic and determination, while feeling his quality is now shining through.
"I think he keeps improving. It's not easy as the Premier League is very difficult, very demanding," said Nuno.
"He's felt this intensity on the duels, and it's something that he needs to improve.
"But he's working very hard. He's very focused and very determined to do it.
"So, we're pleased with this aspect because I know that the quality is there.
"It's about us together finding the best for the player."
Having helped Wolves to back-to-back clean sheets, Semedo is looking to contribute further in an attacking sense, too.
He has one assist to his name so far this season and will hope to add that number in the final six games – while he also looks for his first Premier League goal.
"Inside the idea we have for the game, the role of the full-backs is very important," said Nuno.
"It's hard work, tough one – it's up and down, up and down. You have to be balanced in your line, make one v ones and fight.
"It's very hard, but the role of the full-backs is very important."
Nuno added: "I think we need to keep pushing and looking for the best from the players.
"But I'm optimistic on that aspect, and on Nelson."