Add the olive oil to the instant pot and set to saute.
Cut the bacon into roughly 2cm (1inch) pieces. Add to the pot and cook until crispy. remove and set aside.
Add the Macaroni, butter, paprika, garlic, chicken stock and milk to the pot. Stir together and deglaze the pot if necessary. Put the lid on and set to high pressure for 4 minutes.
Leave under pressure for a further 4 minutes and then do a quick release.
Remove the lid. Add the reserved bacon and stir in the cheese. Season to taste.
Serve and enjoy.
Calories: 984kcal | Carbohydrates: 73g | Protein: 44g | Fat: 57g | Saturated Fat: 27g | Cholesterol: 130mg | Sodium: 1216mg | Potassium: 591mg | Fiber: 3g | Sugar: 8g | Vitamin A: 1204IU | Vitamin C: 1mg | Calcium: 780mg | Iron: 2mg