Using a Teflon pan- place olive oil in the pan and when it is hot add rice -- fry until nicely brown.
Reduce heat -- add bell pepper, onion, garlic and continue to sauté. After about 5 minutes or so add water, tomato ,chili powder and salt.
Place lid on skillet and turn heat down, simmer gently.
When the water has all evaporated-10-15 min later- slide the lid off of the skillet about half way so the steam will escape so your rice is not wet.
(While rice is simmering check it to see if you need a little more water. I don't add much water as I don't like my rice mushy and keep in mind that the veggies added have moisture as well---be sure to taste it before serving -- I actually add more chili powder than this as I like mine spicy).