In a dutch oven, or cast iron skillet, heat the oil over medium heat until the oil reaches 350 degrees.
In a small, shallow bowl, use a fork to whisk together the regular sugar, nutmeg, and cinnamon.
In a separate small bowl, whisk together the cider and powdered sugar until the glaze is smooth and completely incorporated.
Separate the dough into the 8 precut biscuits. Using a small cutter, like a large water bottle lid, cut out holes in the middle. Save the circles for donut holes.
Working in batches of 2-3, add the dough to the hot oil, frying each side until golden brown. Remove the cooked donuts to paper towels to drain excess oil.
Carefully transfer the warm donuts to the cinnamon sugar mixture and gently toss to coat evenly. Transfer the coated donuts to a cooling rack to cool completely. Repeat with the remaining biscuit dough until all the donuts are cooked, coated, and cooled.
Drizzle the warm apple cider glass out evenly over the donuts, and serve immediately.