Mr. Olaitan was said to have been killed at about 2am on friday at his residence in the Government Reservation Area, Benin.
The gunmen were said to have scaled the perimeter fence at his residence and gained entrance into his apartment through the window.
He died on the spot.
Chief Press Secretary to Governor Oshiomhole, Peter Okhiria confirmed the incident.
He said a formal statement on the incident would be issued later.
State Police Spokesman, ASP Etim Bassey said he would get more facts and talk on the matter at about 11am.
The scheduled flag-off of Oshiomhole's campaign rally tomorrow (Saturday) might be called off.
The flag-off was cancelled last week after an auto crash involving the governor's convoy in which three journalists died and others were wounded. The governor narrowly escaped death in the accident.
Governor Oshiomhole had after the crash raised alarm that the crash was politically motivated and that his administration has uncovered plans to demoralise his campaigns through kidnapping or assassination.
Born in Ilorin, Kwara State, Olaitan attended the University of Lagos and holds B.A in Mass Communication.
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