Season the chicken breasts with chili powder, cumin, garlic powder, smoked paprika, salt, and black pepper. Heat olive oil in a large skillet over medium heat. Cook the chicken for 5-6 minutes per side until golden brown and cooked through. Remove from the skillet and set aside.

In the same skillet, add the rice and cook for 1-2 minutes until slightly toasted. Pour in the chicken broth and onion powder, stirring to combine. Bring to a simmer, cover, and cook for 15-18 minutes until the rice is tender. Stir in the diced tomatoes and shredded Monterey Jack cheese.

Slice the cooked chicken and place it on top of the rice. Drizzle the queso dip over the chicken. Cover for 2-3 minutes until the queso is warm.

Garnish with fresh cilantro if desired and serve hot.