Hello,
It can be a sebaceous cyst as well. Blocked sebaceous glands, swollen hair follicles and excessive testosterone production will cause such cysts.
Generally no treatment is required but they become painful then it means they are infected,Then surgical excision by traditional wide excision, minimal excision, and punch biopsy excision may be required.
It is very difficult to precisely confirm a diagnosis without examination and investigations and the answer is based on the medical information provided. For exact diagnosis, you are requested to consult your doctor. I sincerely hope that helps. Take care.
Just to note, the entire bump is black. the area is not red around it that I can tell. It does NOT look like a pimple bump.