Will nipple reduction surgery affect sensation?

I specialize in targeted nipple reinnervation for gender-affirming breast surgery and "top surgery" and I tell my patients that any breast or nipple surgery can potentially alter sensation.
Nipple reduction surgery typically focuses on resizing or reshaping the nipple, while leaving the areola (the pigmented area around the nipple) untouched or minimally altered. The procedure is generally considered to be safe and well-tolerated, but there is always a concern about preserving sensation, particularly because the nipples are sensitive and erogenous for many people. Over time, sensation may return as healing progresses, although some patients report changes in sensitivity, either more or less than before the surgery.
It is essential to work with a surgeon who understands your goals and has experience in delicate procedures like breast or nipple reduction. They will be able to explain the risks and the likelihood of maintaining sensation, as well as any possible complications.
Krishna Vyas, MD, PhD, MHSHarvard and Mayo Clinic Trained Aesthetic and Plastic SurgeonNew York, New York

There is always a risk of losing sensation in and around the nipples after breast surgeries including nipple reduction. Sometimes patients regain sensation and erection, sometimes not. Although this is a small percentage of risk, if you are worried about this, I would not recommend nipple reduction surgery.