Cameron spoke on a British Broadcasting Corporation programme monitored in Lagos.
He said he would take up the issue with President Goodluck Jonathan soon.
The prime minister said he would restate his government’s strong objection to the passage of the bill.
The prime minister was reacting to a question by a Nigerian resident in London, Bisi.
“When we meet with Nigerian politicians and leaders, we will be clear about those things we agreed on. We have to be clear where we disagree. We will make clear where we stand on those issues,” he said.
When asked whether Britain would consider stopping a projected 50 per cent increase in aid to Nigeria or cutting it outright, Cameron said, “Nothing is off the table. We need to have these conversations. We also have some very important objectives with Nigerians, for instance on how to deal with the appalling rates of poverty in Northern Nigeria, which are part of the problems confronting the country.”
Britain and some Western Nation had previously expressed opposition to the bill.
Cameron had in October 2011 threatened to cut off aid to countries which ban gay and lesbians.
