This study examined the relationship between education financing and human capacity development in Nigeria, with particular emphasis on increasing awareness of education financing as a mechanism for addressing the socioeconomic challenges confronting the education sector. The study was anchored on Capacity Theory, which provides a framework for understanding how investments in education contribute to the development and enhancement of individual and societal capabilities. To achieve the objectives of the study, research questions were formulated and hypotheses were tested at the 0.05 level of significance. Relevant literature was reviewed to establish the conceptual and theoretical foundations of the study. A descriptive research design was adopted. The study population comprised 400 adults, including civil servants, youths, women, and rural residents, drawn from Nigeria's six geopolitical zones. Using convenience sampling, a sample of 360 respondents was selected for the study. Data were collected using a researcher-developed 25-item structured questionnaire measured on a five-point Likert scale. The data were analysed using simple percentages, standard deviation, and z-test statistics. The findings indicated that awareness of education financing has a positive influence on human capacity development in Nigeria. The study concludes that effective and sustainable financing of education is essential for strengthening human capacity and addressing socioeconomic challenges in the country. It therefore recommends that the Nigerian government and other relevant stakeholders strengthen education financing mechanisms and provide adequate financial support to individuals and educational institutions to promote accessible, equitable, and sustainable human capacity development.