Hi,

Thanks for writing to us.
Let me assure you first that the lesion is neither cancerous nor it has the potential to turn cancerous in future.

It looks like bacterial infection which can occur secondarily to insect bite.
To treat the same, you may apppy an antibiotic cream like neosporin or mupirocin. Also clean the area with betadine solution or plain luke warm water twice in a day. Hopefully the lesion should resolve in five days. .
Hope this helped. Should there be any doubt, please write back.

Regards