Heat the olive oil in a large pot or Dutch oven over medium heat.
Add the chopped onion and bell pepper. Sauté for 5 minutes until the onion is translucent.
Stir in the minced garlic and cook for an additional minute until fragrant.
Add the sliced okra to the pot. Cook for about 5 minutes, stirring occasionally.
Stir in the diced tomatoes, salt, black pepper, paprika, and cayenne pepper (if using). Mix well.
Pour in the vegetable broth and bring the mixture to a boil.
Reduce the heat to low, cover the pot, and let it simmer for 20 minutes, stirring occasionally.
Once the okra is tender, remove the pot from heat and stir in the fresh lemon juice.
Taste and adjust seasoning if necessary.
Serve hot, garnished with fresh cilantro if desired.