This paper empirically analyzed the impact of oil price shock on selected macroeconomic variables in the African oil-producing countries using Nigeria and Egypt from 1983 to 2020 and 1984-2020 for Egypt, respectively, due to data availability. The study employed the structural vector error correction model (SVECM) due to co-integration among the variables. It was revealed that the response to and significance of the oil price shock differs between the two countries; oil price shock caused an economic boom in Nigeria while it shrunk the Egyptian economy; the broad money supply only responded to the oil price shock in Egypt; the general price level responds positively to the oil price shock in Egypt but respond negatively in Nigeria; oil price shock caused exchange rate depreciation in Nigeria but appreciation in Egypt, an oil price shock caused interest rate reduction in Nigeria but an increment in Egypt. Therefore, policymakers must consider the sensitive nature of their macroeconomic variables to oil price shocks and continue to make proactive decisions that will reduce, if not eliminate, its negative impact. Again, the government of oil exporting countries should ensure diversification of their economy during the oil boom in sectors that would help to caution against the impact of adverse oil price shocks in the economy when such is experienced.