Weird Bump around nose piercing (not keloid or granuloma)

Hello everyone,
Around a month ago I got my nose pierced (I had to get it repierced about two weeks ago because the stud fell out in the night). However a week ago a small bump popped it (it looked a lot like a keloid or a granuloma) but I wasn't too concerned because I thought these are normal and I began to treat it using diluted tea tree oil and lavender oil. But over the past two days it has started to look very weird it's like another bump is growing on top of the first bump, it's starting to scab over and it's also become very large and nearly growing over the stud itself? I went to the doctors and she had no idea what it was and just handed me some antibiotics. I've looked all over the Internet for what this is and how to get rid of it, do I take it out do I keep it in? I doesn't look like a keloid or pustule or an infection, although it may have started off as a keloid and something has grown on top I have no idea.
Can someone please help me???
Thank you!!

This is it (sorry for the extreme close up and how rancid it looks)