Start by patting the chicken thighs dry with paper towels. In a small bowl, combine the smoked paprika, garlic powder, kosher salt, and ground black pepper. Rub this spice mixture all over the chicken thighs, ensuring they are well coated.
In a large skillet or Dutch oven, heat the olive oil over medium-high heat. Once the oil is hot, carefully add the chicken thighs, skin-side down, and sear for about 5-7 minutes until the skin is golden brown and crispy. Flip the chicken and sear the other side for an additional 5 minutes. Remove the chicken from the skillet and set aside.
In the same skillet, add the washed long-grain white rice and toast it for about 2-3 minutes, stirring often. This will help the rice absorb flavors later on.
Pour in the low-sodium chicken broth and tomato sauce, stirring to combine. Bring the mixture to a gentle simmer. Nestle the seared chicken thighs back into the skillet, skin-side up, and bring the mixture back to a simmer.
Cover the skillet with a lid and reduce the heat to low. Allow the chicken and rice to cook for about 25-30 minutes or until the rice is tender and has absorbed most of the liquid.
In the last 5 minutes of cooking, stir in the pitted green olives to warm them through while the chicken finishes cooking.
Once everything is cooked through, remove the skillet from the heat. Sprinkle with chopped parsley for a fresh touch and serve with lemon wedges on the side for squeezing over the dish before enjoying.