While I Loathe Nugent....

[ProfessorGAC]

...and find him a hack who was never even been the best guitar player in any band he was in*, that song is a bad example.
The "jail bait" theme has been done to death in rock history & everyone who wrote such a "Lolita" themed song is not a pedo.
He may be a pedophilic cretin, I don't know for sure. But, I don't think that because of the song. I just know he's a loathsome creep & egomaniac, and that makes it a possibility.

* - Nugent actually was the best guitar player in his own band when he was the only guitar player in the band. That doesn't mean he was good though.