Both vaccines were approved for emergency use, according to Director-General of NAFDAC, Professor Moji Adeyeye, who announced the news on Thursday at a news conference in Abuja.
The agency had earlier approved the Oxford-Astrazeneca and Pfizer jabs, also for emergency use.
Professor Adeyeye explained that although the Sputnik vaccine, produced in Russia, has not yet been approved by the World Health Organisation, NAFDAC has carried out independent checks on the vaccine and found that the benefits outweigh the risks.
The approval comes as fears of a COVID-19 third wave in Nigeria continues to loom.
On Wednesday, the University of Lagos ordered students to vacate hostels on campus after a number of students reportedly contracted COVID-19.
The possibility of a third-wave has heightened after Nigeria Centre for Disease Control reported the Delta variant of the virus in Nigeria.
The variant is believed to be more contagious and deadlier than its predecessors.