Heat olive oil in a large skillet over medium heat. Add the diced onion and sauté for about 3 minutes until it starts to soften.
Stir in the minced garlic and cook for an additional minute.
Add the ground turkey to the skillet, breaking it apart with a spatula. Cook until browned and cooked through, about 5-7 minutes. Season with oregano, paprika, salt, and pepper.
Stir in the chopped red and yellow bell peppers and cook for another 5 minutes until they are tender.
Pour in the diced tomatoes with their juice and mix well. Allow the mixture to simmer for 5 minutes.
Add the cooked rice to the skillet and stir until everything is well combined.
Sprinkle the shredded cheddar cheese on top and cover the skillet. Let it cook for an additional 3-5 minutes until the cheese is melted.
Serve hot, garnished with fresh herbs if desired.