A 21st minute left-footed strike by Monday Shinshinma condemned Fatai Amoo's men to their tenth loss of the season.
"I'm very sad, although we tried our best but it wasn't enough," Faleye told Goal.
"Although I was expecting to be among the starters but unfortunately I was on the bench, all the same it is not the matter of me being among the first 11. The main thing was for us to go out there and do the important things.
"We had opportunities but threw them away which is unfair.
"Actually we've been planning and trying our best just to move out of the relegation zone, although this match with MFM is the match we were supposed to gain a point because they came to Ibadan and give it their all, we came here too to give it our all but we just missed the needful opportunities.
"We'll go back to Ibadan and work harder so as to steer clear of relegation," he concluded.
The loss saw the Ibadan outfit replace Remo Stars at the bottom of the league table, with both sides tied on 26 points though.