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 until fragrant.

Add the long-grain rice to the skillet, stirring well to coat with the spices.

Gradually pour in vegetable broth, scraping any bits off the bottom of the pan.

Cover the skillet, 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 hot. Garnish with fresh cilantro or lime wedges if desired.