Preheat oven to 190 degrees C. Grease 24 mini-muffin cups.
Mix 1/2 cup sugar, 1/4 cup margarine and nutmeg in a large bowl. Stir in the milk then mix in the baking powder and flour until just combined. Fill the prepared mini muffin cups about half full.
Bake in the preheated oven until the tops are lightly golden, 15 to 20 minutes.
While muffins are baking place 1/4 cup of melted margarine in a bowl. In a separate bowl mix together 1/2 cup of sugar with the cinnamon. Remove muffins from their cups, dip each muffin in the melted margarine and roll in the sugar-cinnamon mixture. Let cool and serve.