Heat the vegetable oil in a large pot over medium heat. Add the chopped onions and sauté until they are soft.
Add the minced garlic and ginger to the pot and cook for another minute, stirring frequently.
Stir in the tomato paste and cook for 2-3 minutes to reduce the acidity of the tomatoes and intensify the flavor.
Add the blended tomato/bell pepper puree to the pot, along with the thyme, curry powder, paprika, cayenne pepper, and bay leaves. Cook the mixture for about 10-15 minutes, stirring occasionally, until it thickens and the oil begins to separate from the sauce.
Pour in the vegetable stock and bring the mixture to a simmer.
Once the sauce is simmering, add the rice to the pot, stirring to coat the grains evenly with the sauce.
Cover the pot with a tight-fitting lid and reduce the heat to low. Allow the rice to simmer gently for about 20-25 minutes, or until it's cooked through and tender, stirring occasionally to prevent sticking (if the rice is taking longer to cook and is still crunchy after 20-25 minutes, add more vegetable broth, make sure it's at a low enough temperature to not boil the liquid too quickly and keep cooking until it softens).
Once the rice is cooked, taste and adjust the seasoning with salt and pepper if necessary.
Remove the pot from the heat and let it sit, covered, for a few minutes before serving to allow the flavors to meld together.
Serve the jollof rice hot.