1Preheat oven to 425F. Lightly grease muffin tin or line with 12 paper muffin cups and grease the cups with non stick vegetable oil spray.
2In medium size mixing bowl. cream together the butter, vegetable oil and sugars until smooth.
3Add the eggs, beating to combine.
4Stir in the baking powder, baking soda, nutmeg, cinnamon, salt and vanilla.
5Sift the flour into the butter mixture alternately with the milk, beginning and ending with flour. Make sure everything is thoroughly combined.
6Spoon the batter evenly into the prepared pan, filling the cups nearly full.
7Bake muffins for 15 -17 minutes, or until they are a pale golden brown and a cake tester inserted into the middle of one of the center muffins comes out clean.
8IN A MEDIUM MIXING BOWL PREPARE THE GLAZE: Combine melted butter, confectioners' sugar, vanilla and water. Whisk until smooth.
9When muffins have cooled slightly, dip the muffin crown into the glaze and allow the glaze to harden. May dip in glaze again, if preferred.
SERVE WARM OR COOL ON A RACK. WRAP AIRTIGHT. Muffins will keep at room temp. for about a day.