One thing we can learn is the importance of the ecosystem. The lions depend on the other animals in the Pride Lands and vice versa. In 'The Lion King Read Along Story', the balance of nature is shown as an essential part of life. We also learn about loyalty. The animals that stay loyal to Simba, like Rafiki, play an important role in his journey to become king. Moreover, the story teaches us to face our fears. Simba is afraid to go back at first, but he overcomes that fear and that's a valuable lesson for readers.
Well, from this story we learn about family values. Mufasa teaches Simba about the circle of life which is important for their family and the whole pride. And it shows that even though Scar is a bad character, it's a lesson about how jealousy can lead to bad actions. The story also imparts the value of growing up and taking responsibilities. Simba runs away after his father's death but eventually realizes he has to come back and rule as a king, which means taking care of his pride.
We can learn about friendship. Simba has great friends like Timon and Pumbaa who support him. Also, we can learn about courage. Simba has to find the courage to face his past and take his rightful place as king.