The search and rescue operation is ongoing.
It involves the police, the fire service and members of the Nigerian Security and Civil Defence Corps as well as local volunteers.
Hundreds of distraught parents and other relatives have gathered at the site.
Police at the location have told the BBC that the number of survivors rescued so far is still seven.
Victims of the boat accident were mostly Islamic school pupils – aged between six and 12 – travelling to a religious ceremony in the town of Bagwai.