Heat oil in a large, non-reactive skillet over medium heat. Add onion and bell pepper and cook until tender, 8 to 10 minutes, stirring occasionally. Add okra and cook 5 minutes, stirring often. Add tomatoes, water, and salt and bring to a boil; reduce heat to low, cover, and simmer 20 minutes, stirring occasionally. Stir in TABASCO® SWEET & Spicy Sauce; cover and continue cooking 10 minutes longer.
Makes 6 to 8 servings.