Heat olive oil in a large skillet over medium-high heat.
Add sliced onions and bell peppers to the skillet.
Sauté vegetables for about 5 minutes until they start to soften.
Add minced garlic and cook for another minute.
Stir in the shrimp, chili powder, and cumin.
Cook shrimp until they turn pink, about 3-5 minutes.
Season with salt and pepper to taste.
Warm the tortillas in a separate pan.
Assemble fajitas by placing shrimp and veggies on tortillas.
Garnish with fresh cilantro and serve with lime wedges.