Heat 1 tablespoon olive oil in a large non-stick skillet over medium-high heat.
Add the diced chicken. Season with 1½ teaspoons chili powder, 1 teaspoon cumin, salt, and pepper.
Cook for about 7 minutes, stirring occasionally, until the chicken is fully cooked.
Transfer the chicken to a plate and cover loosely with foil to keep warm.
Add the remaining olive oil to the skillet.
Cook the onion for 3 minutes.
Stir in the bell peppers and cook for another 3 minutes.
Add the garlic and cook for 1 minute until fragrant.
Pour in the chicken broth, fire-roasted tomatoes, and black beans.
Add the remaining chili powder and cumin. Season with salt and pepper.
Bring everything to a steady boil.
Stir in the brown rice, ensuring it's evenly coated and submerged in the liquid.
Reduce heat to medium, cover, and simmer for 6–7 minutes.
Remove from the heat and let stand for 5 minutes.
Stir the cooked chicken back into the Chicken Fajita Rice Bowl along with the lime juice, shredded cheese, and chopped cilantro.
Serve warm with your favorite toppings.