Instant Pot Lemon Basil Chicken and Rice

 .5 lbs boneless skinless chicken breast

  Tablespoon  olive oil

salt and pepper

  teaspoon  garlic powder

  teaspoon  onion powder

  teaspoon  dried basil

  Tablespoon  butter

  cups  long grain white rice  (, uncooked)

  cups  chicken broth

lemon juice

  cup  freshly chopped basil