The latest attack took place Friday night in Zabarmari village, 10 kilometres (six miles) from the city of Maiduguri, birthplace of the jihadist group.
Local resident Haladu Musa, who fled the attack to Maiduguri, told AFP that "large numbers" of fighters poured into the village, overpowering government forces deployed to prevent the insurgents reaching Maiduguri.
"The soldiers were forced to retreat," he said.
Then, as people began to flee, female suicide bombers started blowing themselves up in their midst, killing large numbers of people, he said.
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Musa said the militants looted shops and torched "almost half the village" before eventually being repulsed after the military sent in reinforcements.
Danlami Ajaokuta, a civilian vigilante helping the military battle Boko Haram and who also witnessed the attack, spoke of heavy casualties.
"The main concern now is to evacuate and attend to the injured and later recover the dead bodies now lying in the village," he said, adding that more than 100 people had been hospitalised with injuries.
The Zabarmari attack followed a series of attacks across restive Borno state since Wednesday that have been blamed on the jihadists.
This week, militants gunned down worshippers at evening Ramadan prayers, shot women in their homes and dragged men from their beds in the dead of night.
A young female suicide bomber also killed 12 worshippers when she blew herself up in a mosque.
The spike in violence has sparked concern that earlier gains by the armies of Nigeria, Niger, Chad and Cameroon against the militants are being eroded.