Preheat the oven to 425 degrees F.
Lightly grease the donut tin.
In a medium mixing bowl, add softened butter, oil, brown sugar and white sugar and stir to combine until smooth.
Add the eggs and beat until combined.
Add the baking soda, salt and baking powder, nutmeg, and vanilla extract. Mix until combined well.
Then gradually add the flour and the milk, mixing while adding them in. (The batter will be thick but if it's too thick, add a tablespoon of milk)
Spoon the batter into the baking tin, filling each hole ¾ full.
Bake on 425 for 10 minutes and cool in the pan for 5 minutes before moving to a wire cooling rack.
After baking, prepare the glaze by adding the melted butter, confectioners sugar, milk, and vanilla to a medium bowl and stirring until blended well.
While the donuts are warm, dip each one into the bowl of glaze. Then place it back onto the cooling rack.
Feel free to double glaze if desired!