The negative binomial regression model (NBRM) is a generalized linear model which relaxes the restrictive assumption by the Poisson regression model when the variance is equal to the mean. The estimation of the parameters of the NBRM is obtained using the maximum likelihood (ML) method. Maximum likelihood estimator becomes unstable when the explanatory variables are linearly dependent, a situation known as multicollinearity. Based on this, we developed a new estimator called modified jackknifed Negative Binomial Kibria-Lukman (MJNBKL) estimator for the radiation of multicollinearity in NBRM using four different biasing (shrinkage) parameters. We establish superiority condition for MJNBKL estimator over the ones. The performance MJNBKL estimator was ascertained by comparing it with the existing ones through a Monte Carlo simulation study and two real life application datasets. The results of the simulation and real life application show that MJNBKL estimator outperformed the other estimators compared with by having the smallest MSE across all sample sizes and for different levels of correlation for the four biasing parameters used and the third biasing parameter is the optimal shrinkage parameter with the lowest MSE.