Hi Francis Daly thank you very much for your reply

Let's brake this down one by one. I followed you suggestion and added fastcgi_connect_timeout 600s; to the conf, however the pages still time out after ~75 sec as expected do to this http://nginx.org/en/docs/http/ngx_http_fastcgi_module.html#fastcgi_connect_timeout
"Defines a timeout for establishing a connection with a FastCGI server. It should be noted that this timeout cannot usually exceed 75 seconds."

2016/04/06 12:30:47 [error] 9286#9286: *348669 upstream timed out (110: Connection timed out) while reading response header from upstream, client: 108.162.216.74, server: myvid.top, request: "GET ", upstream: "fastcgi://unix:/var/run/php-fpm.sock", host: "myvid.top"