In a small bowl, combine 1/4 cup warm water and 1 package dry yeast. Let sit for about 5 minutes until it becomes foamy.
In a large mixing bowl, whisk together 5 cups self-rising flour, 1 teaspoon baking soda and 2 teaspoons sugar.
Stir in the 1 cup oil and 2 cups buttermilk. Then, pour in the activated yeast mixture. Mix until just combined, avoiding overworking the dough.
Turn the dough onto a floured surface and gently roll it out to about 1-inch thickness.
Use a biscuit cutter or glass to cut out your biscuits.
Set the air fryer temperature to 350°F (175°C).
Lightly spray the air fryer basket with non-stick cooking spray. Place the biscuits in a single layer and air fry for 8-10 minutes or until golden brown.
Enjoy the warm, flaky biscuits immediately or brush with melted butter for extra flavor.