A boil-like bump near the vaginal area with itching but no pus usually needs a hands-on look to tell if it's a blocked gland, a hair follicle issue, or something else. It isn't something to guess from a description.
Next Steps
Please see a gynaecologist for a physical examination, ideally before it grows or becomes painful.
Health Tips
Keep the area clean and dry, and avoid tight synthetic underwear until it's been checked.