In a large skillet over medium heat, add the extra virgin olive oil. Once hot, toss in the finely chopped onion and diced bell pepper; sauté until softened, about 5 minutes.

Stir in the minced garlic, along with the cumin powder and smoked paprika. Cook for about 1 minute, or until fragrant and well blended.

Add the long-grain rice to the skillet, stirring to ensure it's coated with the spices.

Gradually pour in the vegetable broth, scraping any bits off the bottom for added flavor.

Cover the skillet with a lid, reduce heat to low, and let it simmer for about 18-20 minutes, until the liquid is absorbed and the rice is tender.

Gently fold in the rinsed black beans and season with salt and pepper.

Fluff the rice mixture with a fork before serving. Garnish with fresh cilantro or lime wedges if desired.