He was said to have sustained a head injury and had one of his limbs broken.
The Senior Special Assistant to the President on Media and Publicity, Garba Shehu, confirmed the crash in a statement made available to journalists on Wednesday.
Shehu said Yusuf had undergone successful surgery and is in a stable condition.
The statement read, “Yusuf Buhari had a bike accident last night around Gwarimpa in the Federal Capital Territory, Abuja.
“He broke a limb and had an injury to the head as a result. He has undergone surgery at a clinic in Abuja. He is in a stable condition.
“The President and his wife, Mrs. Aisha Muhammadu Buhari, are thankful to Nigerians for the good wishes and prayers for their son.”
It was gathered that Yusuf was racing on a power bike with his friends when the accident occurred on Tuesday night.
It was also learnt that he was rushed to the Cedar Crest Hospital in Gudu District, Abuja, where surgery was performed on him.
The correspondent counted four Toyota Hilux vehicles belonging to the security personnel, parked around the premises.
Although the security officials were not willing to talk, a relation of a patient in the hospital, who gave his name only as Abubakar, said top government officials had been visiting the President’s son since Wednesday morning.
“The Inspector-General of Police, Ibrahim Idris, was here. The Chief of Army Staff, Lt Gen. Tukur Buratai, also visited the hospital. Many other dignitaries whose identities were unknown have visited.
Visitors were not allowed onto the premises as three riot policemen stood at the entrance to screen the entrants.
It was gathered that more government dignitaries were still being expected at the hospital which is isolated on that street.