The incident happened around midnight at the Port Roundabout close to the Mr Chippie restaurant.
The man was struck while out with friends but the car which struck him failed to stop.
However it is understood that Gardai were in the area and they pursued the suspect.
It is understood they caught up with the alleged driver and interviewed him about the incident.
The victim has been kept in hospital over but it is not thought his injuries are life-threatening.