In a blender, combine peanuts, oats, milk, nutmeg, cinnamon, and vanilla. Blend until smooth or slightly textured, depending on your preference.
In a medium saucepan, bring water to a boil over medium heat.
Pour the blended mixture into the boiling water, whisking constantly to prevent lumps.
Whisk for 5-6 minutes, until the porridge thickens and bubbles slowly.
Add quarter​​ to half cup of milk or water to reach your desired consistency, stirring well.
Reduce heat to low and simmer for 5-10 minutes, stirring occasionally.
Add condensed milk or sugar to taste.
Serve warm and enjoy! 🥜