Preheat the oven to 350F. Grease a large loaf pan.
In a large mixing bowl, cream the butter and sugar until light and fluffy. Beat in the eggs and pumpkin.
In a separate bowl, combine the flour, baking powder, baking soda, and spices. Gradually beat into the pumpkin mixture until mixed.
Transfer half of the mixture to the loaf pan and top with 1/2 cup of the Nutella. Repeat another layer of batter and Nutella.
Using a knife, cut through the layers to swirl together. Bake the loaves for 50-60 minutes until a toothpick inserted into the center of the loaf comes out clean. Cool in the pan for 10-15 minutes and then remove to a wire rack to cool completely.
Enjoy it on its own or serve warm with butter or extra Nutella.