It isn't clear from your pic where this lump is or how big it is. If I'm right, the glans (or "bell end" is on the left of the pic, you're circumcised, and the lump is on the right hand side of your penis around the scar line, but could you clarify.
If you've never had sex, then it's unlikely the bump is anything to worry about. Maybe a sebaceous cyst??
It could be a small lymphocele, but that's also something that would normally fix itself. You don't need to avoid touching it, and masturbating probably isn't a problem unless you're quite rough for an extended period of time, in which case try using some lube. I don't think massaging would help.