The two cabinet members affected are Saleh Mamman, the minister of power; and Sabo Nanono, the minister of agriculture and rural development.
Femi Adesina, presidential spokesman, announced the termination of their appointment on Wednesday.
As part of the cabinet restructuring, Mohammad Mahmood Abubakar, the minister of environment, is expected to assume office as the minister of agriculture and rural development.
Abubakar Aliyu, the minister of state for works and housing, will take over as the minister of power.
President Buhari is not known for sacking his ministers or rejigging his cabinet until the end of his tenure.
He is the first Nigerian president since 1999 not to have rejigged his cabinet in a four-year tenure.
After his reelection in 2019, he explained why he decided to retain his cabinet ministers in spite of pressure from some quarters to disengage some of them.
“Although we all had a common vision, we frequently had heated debates in this room on the best way to achieve our goals. These differing views are what made the decisions we took all the more rational,” the president had said.
“It is this quality that made me retain my cabinet for the full term. Each of you in this room has a unique skill and strength.
“We are a reflection of the Nigeria we aspire to achieve – A diverse but tolerant nation where no one is silenced and where every opinion should be heard and considered.”