Preheat your oven to 350°F (175°C) and prepare a 9x5-inch loaf pan by greasing it or lining it with parchment paper.

In a large mixing bowl, whisk together the dry ingredients: flour, sugar, baking powder, salt, and nutmeg until light and fluffy.

In another bowl, mix the wet ingredients: eggnog, vegetable oil, eggs, and vanilla extract until smooth.

Carefully combine the wet mixture with the dry ingredients, stirring gently until just combined.

Pour the batter into the prepared loaf pan, smoothing the top for even baking.

Bake the bread in the preheated oven for 50-55 minutes, until a toothpick comes out clean.

Once baked, cool the bread in the pan for 10 minutes before transferring it to a wire rack.

Optional: For the glaze, whisk together powdered sugar, milk, and vanilla until smooth and pourable.

Drizzle the glaze over the cooled bread and slice to serve.