The Gunners drew 2-2 in the north London derby at the Emirates on Sunday afternoon.
Mikel Arteta's side were arguably lucky to end the match with 11 players after a challenge by Nketiah on Spurs shot-stopper Vicario.
"I think it was one where it is fortunate, simply because the ball is gone," Wright said on Match of the Day.
"He was totally committed. I don't know if it was frustration, because of how the game was going for him.
"He had one shot on target today. I don't know if it is frustration. When you look at the ball, he was very fortunate to stay on. He got away with one there."
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Tottenham defender Cristian Romero put through his own net to give Arsenal the lead in the match.
Son-Heung Min equalised for Spurs three minutes before half-time, though Bukayo Saka put the Gunners back infront from the penalty spot on 54 minutes.
Though after the restart, Son fired low beyond Arsenal goalkeeper David Raya, therefore, earning Ange Postecoglou's side a point.
Wright also believes if his former side are to challenge the likes of Manchester City and Liverpool for the title, they need to score more goals.
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"If you are going to chase down Man City, the chances you are creating, you have to take them," Wright added.
"We're talking about margins and 2-0 makes it a different game. We'd have seen a different kind of Spurs."
Arsenal face Brentford next in the Carabao Cup on Wednesday, before returning to domestic action against Bournemouth at the Vitality Stadium next weekend.