Whisk the flour, sugar, instant yeast, salt and nutmeg in a 4 L / 4-quart mixing bowl. Pour in the warm water and stir with a wooden spoon for 1 to 2 minutes until you have a thick, sticky batter with no dry flour. It should drop slowly off the spoon. If it feels stiff, stir in 1 to 2 tbsp more warm water.
Cover the bowl with a damp towel and leave it in a warm spot for 60 minutes, until the batter has doubled and the surface is covered in bubbles.
About 10 minutes before the rise ends, pour the oil into a 22 cm / 9-inch heavy-bottomed pot so it's about 4 cm / 1.5 inches deep. Heat over medium until a thermometer reads 175 C / 350 F. Set a wire rack over a 33 x 46 cm / 13 x 18-inch sheet pan lined with paper towels.
Stir the risen batter once or twice, no more. Using two wet tablespoons, scoop about 1 heaping tablespoon (27 g) of batter and slide it into the oil. Add 7 per batch so the pot isn't crowded.
Fry for 3 to 4 minutes, turning with a slotted spoon, until deep golden on all sides. They'll puff and roll over on their own. Break open one from the first batch: the center should be airy and dry. If the outside is dark but the middle is wet, the oil is too hot, so lower the heat and wait for 175 C / 350 F.
Lift the puff puff onto the rack with the slotted spoon. Wait about 1 minute for the oil to come back to 175 C / 350 F, then fry the next 7. Repeat for 4 batches in total and serve warm, within 30 minutes.