In a medium saucepan, heat the vegetable oil over medium heat. Add the chopped onion and sauté until translucent, about 3-4 minutes.

Stir in the minced garlic and cook for an additional 30 seconds until fragrant.

Add the rinsed rice to the saucepan and cook, stirring frequently, until the rice is lightly toasted, about 5 minutes.

Mix in the diced tomato, vegetable broth, salt, cumin, and chili powder. Bring to a boil.

Once boiling, reduce the heat to low, cover, and let simmer for 15-20 minutes or until the rice is cooked and the liquid is absorbed.

Remove from heat and let it sit, covered, for 5 minutes. Fluff with a fork and garnish with fresh cilantro before serving.