In a large pot or deep skillet, heat 2 tablespoons of oil over medium heat. Add the diced onion and cook for 2–3 minutes until softened. Stir in the rice and toast for 5–6 minutes, stirring often, until lightly golden. Add tomato sauce, water, and bouillon powder. Cook according to rice package instructions until fluffy and the liquid is absorbed.
In a separate skillet, heat 1 tablespoon of oil over medium-high heat. Add the diced chicken and sprinkle with fajita seasoning. Cook for 7–8 minutes, stirring occasionally, until fully cooked (internal temp 165°F / 74°C).
Warm the cheese dip according to package instructions until hot and pourable.
Spoon a bed of rice onto plates or bowls. Top with fajita-seasoned chicken, then drizzle generously with warm queso. Serve hot and enjoy creamy Tex-Mex comfort!