Combine flour, baking powder, yeast, and salt in a large bowl. Mix well.
Add water and oil, then mix until well combined. Gently fold until combined into a ball - you don't want to knead too much. Just a couple folds until combined.
Once combined place back into bowl and spray with cooking spray to keep hydrated.
Cover with a towel and let rise for 20-25 minutes.
Once risen, cut dough in half and half again until you have 16 equal pieces.
Roll each piece into a ball, and set aside.
Get a drying station ready by lining a large baking sheet with paper towels. You will place the fry bread here after cooking it.
Then, in a small frying pan, pour 1 inch of oil and heat on medium-high heat until oil reaches 350°F. (Or until droplets of water sizzle in the oil.)
Once oil is ready, quickly use your hands to flatten out one of the dough balls. until it's about 6 inches round (it doesn't need to be perfectly round).
Once flattened to about 1/4" thick, slowly place into oil. Let fry on once side until golden brown (about 2 minutes). Once side 1 is golden, use tongs to flip fry bread over. Fry on 2nd side until golden brown, then remove with tongs to cool on the paper towel lined baking sheet.
Flatten the next dough ball and repeat. If your frying pan is large enough you can make 2 at a time. Continue until all the dough is fried. We like to make about 2/3 of the fry bread for the Navajo Tacos, then dust the last 1/3 in cinnamon and sugar for a nice treat.
Set bread aside until ready to eat.