In a bowl, season the chicken strips with chili powder, paprika, cumin, garlic powder, salt, and black pepper. Toss well until evenly coated.
Heat olive oil in a large skillet over medium-high heat.
Add the chicken and cook until golden brown and fully cooked, then remove and set aside.
In the same skillet, add the sliced bell peppers and onion. Cook until tender but still slightly crisp.
Return the chicken to the skillet and mix with the vegetables so the flavors combine.
Add cooked rice to serving bowls as the base.
Top with the chicken and fajita vegetables.
Add avocado slices, sour cream or sauce, and fresh cilantro.
Serve with lime wedges for squeezing over the bowl before eating.