The Aston Villa frontman has been in fine form under Tim Sherwood and is reported to be attracting interest from several clubs.
The Reds have lacked firepower this season after selling Luis Suarez to Barcelona and losing Daniel Sturridge for much of the season through a series of injuries.
That fearsome ‘SAS’ double act scored the majority of Liverpool’s goals last season and their replacements have failed to impress, with Mario Balotelli in particular proving to be a disappointing addition.
In contrast, Belgian star Benteke has been resurgent under manager Tim Sherwood, and Nicolas believes he would be ideal for Brendan Rodgers’ side.
“Why not just go and buy Benteke?” he said.
“He’s proven, he’s strong and he’s physically adaptable. Of course they can afford him, if he wants to go, he will go. If he had the choice he’d rather be in it [the Champions League] but Liverpool is not a bad fall back [option] is it.”
Such has been the disappointment surrounding Liverpool’s forward line this season, they have been linked with approaches for a number of Europe’s top strikers.
However, any move is likely to be an expensive one for the type of player the club needs, while they may be without the bargaining tool of Champions League football - something they had last summer.
Nicholas believes that the club also need to ditch their policy of signing young players that can be developed, and instead look to sign experienced, proven talent.
“I think they need to blend in the experience,” he added.
“They [the player] should already have Premier League experience, if they bring in another foreigner it’s another gamble for Liverpool and the gambles have not worked.”