Heat olive oil in a large deep skillet or Dutch oven over medium-high heat.
Season chicken thighs with salt, black pepper, cumin, and chili powder on both sides.
Add the chicken thighs to the skillet and cook for 4-5 minutes on each side until browned. Remove chicken from the skillet and set aside.
Reduce heat to medium. Add diced onion to the skillet and sauté for 3-4 minutes until softened.
Add minced garlic and cook for 30 seconds until fragrant.
Add rinsed rice to the skillet and stir to coat with the onion and garlic mixture.
Pour in chicken broth and stir to combine.
Return the browned chicken thighs to the skillet, placing them on top of the rice mixture.
Cover the skillet with a lid and reduce heat to low. Simmer for 20 minutes, or until the rice is tender and the chicken is cooked through.
Remove the skillet from heat. Stir in chopped cilantro, lime juice, and lime zest.
Serve hot, garnished with additional cilantro if desired.