Android N is the next version of the Android OS. Since many years, Google has followed alphabetical order for naming the next Android version. And the names of all the Android versions are derived from some desert. It will be the same for Android N and this version is referred as New York Cheesecake internally.
Although this might not turn out to be true. Android 4.4 was internally named Key Lime Pie but the final name was KitKat and it was quite a popular name.
At this point of time, Nougat or Nutella seem plausible options but we don’t have official confirmation on any. Some sources are suggesting “Noodles” but this will go against the policy of Google naming its Android version from deserts.
Naming Android N as Nutella will also be an attractive option as far as commercial reasons are concerned. What is your favorite desert that starts with N?