Iran Press/Africa: Authorities said only 20 people were rescued when the ferry traveling between Niger state and Kebbi state in the north-west broke in two.
The true death toll may never be known. Some reports said the boat had been carrying up to 200 people, mostly women and children.
The state governor tweeted that it was "in deep shock and sorrow, over the unfortunate boat accident which claimed the lives of over 100 passengers".
The waterways authority that regulates water transport in Nigeria said the boat had been overcrowded and went down an hour into its journey.
Authorities blame the accident on overloading as the boat was also reportedly carrying bags of sand from a gold mine and motorcycles.
This is the second accident in the region this month, after at least 28 people drowned when their boat capsized two weeks ago in Niger state.
President Muhammadu Buhari described the accident as "devastating," offering his condolences to the victims' families.
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