The criminals also set ablaze a Hilux van the policemen were riding in.
The incident happened in the early hours of on Monday.
One of the policemen was reportedly burnt beyond recognition.
It was unclear how the other policeman was killed.
The assailants reportedly carted away three police rifles.
The incident is the latest of the reprisal attacks on the police over a renewed fight against insecurity in the area.
A police station was recently attacked twice in the area while a policeman sustained machete wounds as property were destroyed by the attackers.
Ikot Ekpene Area Commander, ACP Bello Kankofori expressed shock at the attack on policemen but pledged that the attackers would be fished out and brought to book.