Preheat your oven to 425°F. Lightly grease a baking sheet or coat it with nonstick spray.
In a small bowl, mix together chili powder, cumin, oregano, paprika, 1 1/4 teaspoons of salt, and 1 1/4 teaspoons of pepper.
Arrange the chicken, bell peppers, onion, and garlic in a single layer on the prepared baking sheet. Drizzle with olive oil and sprinkle with the spice mixture, then gently toss to coat evenly.
Bake for 25 minutes, or until the chicken is fully cooked and the vegetables are tender-crisp. Add cilantro and lime juice, mixing well.