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Preheat oven to 375°F.
Combine flour, baking powder, baking soda, and salt; mix well and set aside.
Whisk eggs with mixer until light yellow and foamy. Add sugar, nutmeg, extracts, and lemon zest. While mixing, drizzle in canola oil until emulsified. Fold in applesauce. Now alternate dry ingredients with buttermilk, gently folding in until batter is loosely combined.
Pour into a buttered/sprayed 9” x 5” loaf pan and bake in the centre of the oven for 35-50 minutes until top is cracked and a pick inserted in the centre comes out clean.