Pour vegetable oil into a heavy pot or deep fryer. Place over medium-high heat with a thermometer attached to the side. Heat to 350 degrees, being sure to adjust throughout cooking process to maintain temp.
In a large bowl or zip-top bag, add the flour, sugar, cinnamon, nutmeg, salt, and baking powder. Whisk together and set aside.
In a medium bowl add eggs, vanilla, and milk. Whisk together well and pour into the dry mixture. Us a spatula to fold the wet into the dry until almost combined.
Add in chopped bacon and pecans and incorporate gently. Over-mixing will result in tough batter.
Start by testing one fritter bite to ensure it cooked through and it's nice and crispy. Use a small cookie scoop (or a 1/4 cup) to transfer batter into the oil. They should be about the size of a donut hole.
Once golden brown on the bottom, turn over with thongs and fry until golden brown on the opposite side and transfer to a plate lined with layers of paper towels. Allow access oil to drip off, then immediately onto a cooling rack to ensure crispiness. Repeat until all batter is gone, cooking about 4-6 fritter bites at a time.