In a large bowl, combine the chicken, bell peppers, onion, olive oil, chili powder, cumin, paprika, garlic powder, onion powder, salt, and pepper. Toss to coat evenly.
Heat a large skillet over medium-high heat. Add the chicken and vegetable mixture to the skillet and cook for 6-8 minutes, stirring occasionally, until the chicken is cooked through and the vegetables are tender.
Squeeze lime juice over the cooked fajita mixture and stir to combine.
Warm the tortillas according to package instructions.
Serve the fajita mixture in warm tortillas, garnished with your favorite toppings such as sour cream, cheese, and avocado.