Some of the traditional stories are also found in the Quran, the Bible and other religious books.
In many parts of the world stories were taken from place to place by travelling storytellers who taught them to the people they met. Perhaps you have met such people.

The earliest English literature includes some of these stories. Both Geoffrey Chaucer (the first English writer who is studied in schools) and William Shakespeare used such stories in their work.
Some of the best modern collections of these stories translated into modern English have been made by Idries Shah. He has collected them from places all over the world and published them in many books and has pointed out that some of them seem to have philosophical meanings. You should ask your local library to get some of them. Then you can see if any of your people's traditional stories are included.
Because oral literature is so old, and because it is passed on without writing, it is impossible to know who first composed the stories and songs. In this it is different from modern literature of which we usually know the names of the authors. What we can know is that the ancient authors must have been wise to pass on to us stories which have not changed for thousands of years. From them we can learn many things, including the right way to behave and the right way to think.
There are no questions on Traditional Literature in the examination, but that doesn't mean it isn't important. It is older than all the books we read and may well exist after the books we read now have been forgotten.
Something to do
Try to write down as many as possible of the stories you have heard. Write them in your language and in English. Find out if any of these stories are known by people who speak other languages.
Learn to tell stories to others in English and your own language.
Try writing the songs in English too. (But translation is a difficult art, especially of poetry).