The Manchester City striker said that the Lazio defender's dismissal killed off his side's chances and noted the entire squad wants the coach to stay on.
The Lazio fullback was shown two yellow cards in quick succession in the 54th minute for dissent after Portugal had made it 3-1 through Cristiano Ronaldo.
Dzeko believes that Lulic's red card changed the course of the game and made it impossible for Bosnia to beat Portugal,
"We suffered six goals because of Lulic seeing red," Dzeko told reporters after the game. "When he was sent off, it was 3-1. With 10 players it is practically impossible to turn a score around. With the same number of players on the field, it would be hard already."
The Manchester City forward then expressed his desire to see coach Safet Susic remain in charge of Bosnia despite the team's failure to qualify for Euro 2012.
"It is not just me who wants him to continue, but the whole team," Dzeko noted.