In this paper we study approximation theorems for $L^2$-space on Damek-Ricci spaces. We prove direct Jackson theorem of approximations for the modulus of smoothness defined using spherical mean operator on Damek-Ricci spaces. We also prove Nikolskii-Stechkin inequality. To prove these inequalities we use functions of bounded spectrum as a tool of approximation. Finally, as an application, we prove equivalence of the $K$-functional and modulus of smoothness for Damek-Ricci spaces.