In a medium bowl, whisk together olive oil, chili powder, cumin, 1 teaspoon salt, and ½ teaspoon pepper. Coat the chicken with the spice blend. For best flavor, refrigerate the chicken for 30 minutes to marinate if time allows.
Heat unsalted butter in a heavy-bottomed Dutch oven over medium heat. Sear the chicken thighs in batches, ensuring each piece gets a beautifully deep golden crust (approximately 4-5 minutes per side). Transfer the browned chicken to a plate.
In the same pot, add the diced onion. Sauté over medium heat, stirring occasionally, until softened—about 3 to 5 minutes. Then stir in the minced garlic until fragrant, roughly 1 minute.
Toss in the rice along with lime zest and allow it to toast lightly for 1-2 minutes. This extra step deepens the nutty flavor of the rice.
Pour in the chicken stock while scraping up any caramelized bits from the bottom of the pot. Season with additional salt and pepper if needed. Nestle the seared chicken evenly among the rice.
Bring the mixture to a lively boil, then cover and reduce to a gentle simmer. Cook until the rice is perfectly tender and the chicken reaches an internal temperature of 165°F, about 15-20 minutes. Let the dish sit, covered, for an extra 5 minutes.
Remove the chicken momentarily. Stir in the chopped cilantro and freshly squeezed lime juice into the rice. Gently fluff the rice with a fork to separate the grains.
Return the chicken to the pot (or serve it on top) and garnish with your choice of toppings. Enjoy this satisfying, one-pan wonder immediately.
