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If the swelling and redness is at the base of the nail, it is likely that there has been some trauma to the nailbed and possible infection. If the nail is cracked or loose, I would recommend removing the nail and placing your dog on an anti-inflammatory medication +/- an antibiotic. If the nail is firmly attached, I would use the anti-inflammatory medication and possibly an antibiotic if I suspect infection.
If the nail looks at all deformed, I would recommend a radiograph of the toe to rule out any problem (infection, tumor) with the bone itself. This would be unlikely.
Until you are able to take him in to your vet, it may help to soak his paw in water and Epsom salts. This will help draw out any infection and swelling and may give him some relief. Best wishes for a speedy recovery for your furry friend!
I would try soaking for about 5 minutes at a time twice a day. I don't think a topical antibiotic will do much to help.
DO NOT give him ibuprofen!!!!! This is toxic to dogs and will cause kidney failure. You can try buffered aspirin, (about 1/2 of an adult 325mg tablet) every 12 hours for 3 days. If the swelling and redness doesn't improve significantly, then you will want to have your veterinarian evaluate him.