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What is meant by nominal current or nominal voltage?

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The word nominal means the lowest possible safe amount. So, nominal current or nominal voltage is the lowest amount necessary to perform an electrical function like keeping a light turned on.
The original answer is incorrect. 'Nominal' simply means 'named'. So a 'nominal voltage' is the 'named voltage', as opposed to an 'actual voltage'. For example, the nominal voltage of residential supplies in the UK is 230 V; however, this value is allowed to vary between +10/-6% of the nominal voltage. In other words, a nominal voltage of 230 V may vary between 216 V and 253 V.
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