Set the Instant Pot to saute mode and heat the olive oil. Add the diced onion and cook for 3 minutes until it softens.
Stir in the minced garlic, smoked paprika, and chili powder. Cook for 1 minute until fragrant.
Add the rinsed lentils, diced tomatoes with their juice, vegetable broth, salt, and pepper. Stir well to combine.
Secure the lid and set the valve to sealing. Cook on manual high pressure for 15 minutes.
Allow a natural pressure release for 10 minutes, then quick release any remaining pressure.
Open the lid and stir in the drained corn and BBQ sauce. Switch to saute mode and simmer for 3 minutes to warm everything through.