Toast the saffron in a small, non-stick frying pan on medium heat for about 2 minutes or until fragrant. Continuously shake the pan to prevent burning. Set aside.
In a large pot over medium heat combine the oil, onion, garlic, salt and pepper. Stir for about 2 minutes, then add the rice. Stir constantly until all the grains of rice are covered in oil, about 2 minutes.
Add water and stir so all the rice settles to the bottom. Add the toasted saffron (without stirring) and bring to a boil over medium heat.
Reduce heat to low, cover and simmer until all the water is absorbed, 25-30 minutes.
Gently stir to mix in the saffron then serve.
Notes
This is a large recipe but I think it is worth making the whole thing. It keeps in the fridge for several days and can be enjoyed with many ordinary dinners.