I have a sensitive lump on my vagina lip and it is growing with time. I am NOT pregnant. What could this be and how can I get rid of it.?

Needs evaluation. Lumps, bumps, blisters and other skin abnormalities on the genitals need to be evaluated. An examination will be needed to know the cause and treatment. We need to know what it is you are referring to before any treatment options can be discussed. An Obgyn should be able to provide some direction after visualizing the area.