Heavily armed criminal gangs snatched 136 pupils from the seminary in Tegina in Niger State’s Rafi district on 30 May.
The 200 or so gunmen used motorcycles to transport the pupils to their rural hideout.
Six of the pupils died in captivity and a further 15 escaped in June, according to school officials.
On Thursday the head of the seminary Abubakar Alhassan announced the remaining pupils had been freed.
“The pupils have all been released. We are now conveying them home,” he said without giving details of how, or whether a ransom had been paid.
TV5 Monde television showed footage of the pupils eating after their release.
Northwest and central Nigeria have seen a surge in attacks, looting and mass abductions by criminal gangs known locally as bandits.
But this year gangs began targeting schoolchildren and students as a way of obtaining bigger ransom payments.
Around 1,000 pupils have been kidnapped since December. Most have been released after negotiations, but dozens are still being held in forest camps.
Gunmen who kidnapped more than 100 students from a Baptist high school in northwestern Kaduna State released 15 more of those hostages after collecting ransom, a representative of the families said on Sunday.
But insecurity has worsened as criminal gangs emerged involved in cattle rustling, looting villages and mass kidnapping. Most of them are based in vast forests across Kaduna, Katsina, Niger and Zamfara states.
Some local governors have attempted amnesty deals with the bandits but most have failed.
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