1. Heat oven to 300 degrees F, with 2 racks. In a very large bowl, stir together oats, flakes, salt, and nutmeg. (Split into two bowls if needed.)
2. In a medium saucepan, combine oil, honey, molasses, and water. Warm over heat medium heat, until hot. (Heating the liquid mixture makes it much easier to stir thoroughly into the dry mixture.)
3. Pour warm liquids over dry mixture. Stir well to fully incorporate and moisten. Divide evenly between 2 large, rimmed baking sheets. Bake 15 minutes. Use a pancake spatula to move and turn the granola on both pans, taking care to move the granola closest to the edges of the pans where it bakes more quickly. Spread out evenly again. Continue to bake, and turn every 15 minutes, until the granola is dry and crisp, 45 to 55 minutes total. Granola will continue to crisp as it cools to room temperature on the pans. Cool completely. Stir coconut and apricots into granola.