In a large skillet, heat the olive oil over medium-high heat. Add the sliced chicken breast, seasoning it with salt and pepper. Cook until browned and cooked through, about 5-7 minutes. Remove the chicken from the skillet and set aside.
In the same skillet, add the sliced bell pepper and onion. Sauté for about 3-4 minutes or until they begin to soften. Stir in the minced garlic, chili powder, cumin, and paprika, cooking for an additional minute until fragrant.
Stir in the long-grain rice, allowing it to toast slightly for 1-2 minutes. Then, pour in the chicken broth, bringing the mixture to a boil. Once boiling, reduce the heat to low and cover the skillet. Let it simmer for 15 minutes or until the rice is tender and has absorbed the liquid.
Once the rice is cooked, add in the corn and black beans, folding gently to combine. Return the cooked chicken to the skillet, mixing everything until well incorporated. If desired, sprinkle shredded cheese on top, allowing it to melt slightly.
Remove the skillet from heat. Garnish with fresh cilantro before serving. Enjoy your Chicken Fajita Rice Skillet straight from the pan or plate it up for a family-style meal.