Heat 1 tablespoon olive oil in a large nonstick skillet or deep sauté pan over medium-high heat.
Add the diced chicken and season with 1½ teaspoons chili powder, 1 teaspoon cumin, salt, and black pepper.
Cook for about 6–7 minutes, stirring occasionally, until the chicken is fully cooked. Transfer to a plate and keep warm.
In the same skillet, add the remaining olive oil.
Add the diced onion and cook for 3 minutes.
Stir in the bell peppers and cook for another 3 minutes until slightly tender.
Add the minced garlic and cook for 1 minute until fragrant.
Pour in the chicken broth, fire-roasted tomatoes, and black beans.
Stir in the remaining chili powder and cumin, then season with salt and pepper to taste.
Bring the mixture to a rolling boil.
Add the instant brown rice and stir well so the rice is evenly coated and submerged in the liquid.
Reduce the heat to medium, cover, and simmer for 6–7 minutes until the rice is tender.
Remove the skillet from the heat and let it rest, covered, for 5 minutes.
Stir the cooked chicken back into the pan.
Mix in the fresh lime juice, shredded cheese, and chopped cilantro until everything is well combined.
Serve the Chicken Fajita Rice Bowl warm with your favorite toppings