Yusuf, the son of President Muhammadu Buhari, was on Tuesday night involved in an accident while riding his power bike.
The development was confirmed on Wednesday by the Presidency.
According to available information, Yusuf suffered head and limb injuries.
He has undergone surgery, a statement by the Presidency on Wednesday said.
Garba Shehu, the spokesman of the President, confirmed the development.
Shehu said Yusuf broke a limb and had a head injury.
He is said to be in stable condition.
The statement added: “The President and his wife, Mrs Aisha Muhammadu Buhari, are thankful to Nigerians for the good wishes and prayers for their son.”