In a bowl, whisk together BBQ sauce, honey, soy sauce, vinegar, garlic powder, onion powder, and smoked paprika. Set aside.
Season chicken with salt and pepper. Heat olive oil in a large oven-safe skillet over medium-high heat. Sear chicken for 3–4 minutes per side until golden. Remove and set aside.
In the same skillet, cook chopped onion and bell pepper for 2–3 minutes until soft. Add minced garlic and cook for 30 seconds.
Stir in rice to coat with veggies. Add chicken broth, stir again, and let it simmer for 1 minute.
Place seared chicken on top of rice. Pour sauce evenly over everything. Cover tightly with a lid or foil.
Bake at 375°F (190°C) for 35–40 minutes, until rice is tender and chicken is cooked through (165°F/74°C internal temp).
Remove from oven and let it rest uncovered for 5–10 minutes. Top with chopped cilantro and lemon wedges before serving.