Don't worry...you are suffering from eczematous dermatitis causing this itchy nipple... Specific medicine available for good control... Treatment depends on the severity..Do direct online consultation for detailed prescription by sending photos.

This is Nipple Eczema. Eczema of the nipple occurs when an itchy, scaly, irritated rash develops in the areola. It can occur on one or both nipples. Usually it is caused by irritation from certain articles of clothing, soaps, laundry detergents, or lotions. When your skin gets too dry, it can easily become brittle, scaly, rough or tight, which can lead to an eczema flare-up. Importance of moisturizing skin to manage eczema flares is important. Everyday products and even natural substances can cause your skin to burn and itch, or become dry and red. Consult a Dermatologist for further evaluation.

Could be nipple dermatitis...it can be controlled... kindly consult online for proper assessment and treatment