"They need another striker. It's unlikely that Daniel Sturridge is going to stay fit and be able to play every game," Nicol told talkSPORT.
"I'm sorry they haven't got Bony because I think he would be a great player for Liverpool.
"He's a proven striker in the Premier League, he scores goals, and he has played with a side that is similar in style to Liverpool. He would settle into Liverpool very quickly. I'm hoping that would be the signing."
Bony joined Swansea from Vitesse Arnhem last summer for around £12m and impressed in his first season in England, netting 26 goals in all competitions.