The modulational instability (MI) phenomenon is addressed in a nonlocal medium under controllable saturation. The linear stability analysis of a plane-wave solution is used to derive an expression for the growth rate of MI that is exploited to parametrically discuss the possibility for the plane wave to disintegrate into nonlinear localized light patterns. The influence of the nonlocal parameter, the saturation coefficient, and the saturation index are mainly explored in the context of a Gaussian nonlocal response. It is pointed out that the instability spectrum, which tends to be quenched by the high nonlocality parameter, gets amplified under the right choices of the saturation parameters, especially the saturation index. Via direct numerical simulations, confirmations of analytical predictions are given, where competing nonlocal and saturable nonlinearities enable the emergence of trains of patterns as manifestations of MI. The comprehensive parametric analysis carried out throughout the numerical experiment reveals the robustness of the obtained rogue waves of A- and B-type Akhmediev breathers, as the nonlinear signature of MI, providing the saturation index as a suitable tool to manipulate nonlinear waves in nonlocal media.