In a bowl, mix the sliced chicken with chili powder, cumin, garlic powder, salt, and pepper. Drizzle olive oil over the chicken and toss to coat evenly. Let it marinate for 5-10 minutes for the best flavor.
In a large skillet, heat 1 tablespoon of olive oil over medium heat. Add the sliced onions and bell peppers. Cook for about 5-7 minutes, until they are soft and slightly charred. Remove them from the skillet and set them aside.
In the same skillet, add the marinated chicken. Cook for about 5-7 minutes, stirring occasionally, until the chicken is fully cooked and slightly browned.
Warm the tortillas in a dry skillet for 1-2 minutes. To assemble, place some of the cooked chicken and vegetables onto the tortillas. Garnish with fresh cilantro and serve with lime wedges on the side.