Preheat your oven to 350 degrees Fahrenheit.
In a large dry mixing bowl mix the low carb baking mix, baking powder, nutmeg and sweetener together until well blended.
Make a well in the center of the dry mixture and add the oil, water, eggs and vanilla to it.
Mix well with a fork or whisk until all the ingredients are blended.
This should only take a minute or two.
Spray an 8×4 loaf pan with non stick cooking spray.
Add the bread batter to the pan and spread it out evenly.
Bake at 350 degrees for 50-60 minutes.
Check the center with a toothpick to insure it is done.
The toothpick should come out clean when it is cooked throughout.