The SDLP has hit out at the lack of "urgency" over the creation of 10,000 university places for Derry.
The commitment, set out in the New Decade, New Approach deal that restored power-sharing in Northern Ireland in 2020, has yet to be met.
There are currently 4,188 students in Magee, according to figures provided to the SDLP.
Read more: Apprentice Boys purchase life-saving defibrillator after member's heart problems
The expansion of the Ulster University Magee campus in Derry has been a long-running gripe among local campaigners, who see it as a key way of reviving economic offering of the the north-west of Northern Ireland.
SDLP Foyle MLA Sinead McLaughlin has launched a new petition, calling for 10,000 university places in the city. She said that such a move would be transformational for Derry.
"The fight for proper university provision in Derry has been ongoing for generations.
"Despite the relentless efforts of the SDLP and other campaigners we are still well short of where we need to be and in some respects are going backwards," she said.
"The SDLP has always been committed to the expansion of university places because we know what it would mean for our city.
"So crucial is it to the regeneration of the entire north-west and finally seeing Derry realise its potential, our party leader Colum Eastwood made sure it was enshrined as part of the New Decade, New Approach Agreement and guaranteed by both the British and Irish Governments.
"Since the agreement was signed we have seen no urgency to deliver on this promise.
"Despite repeated calls for progress we have had nothing but excuses and people in Derry are sick and tired of the same old story when it comes to proper investment in our city.
"Every year our best and brightest leave this area behind to study and work and achieve a better life elsewhere.
"There can be no further delays."
Last summer the first students entered the new medical school in Derry. It was hailed as historic for the city, which sits close to the border with Donegal and the Republic of Ireland.
Campaigners have long said that both sides of the border would benefit from an expanded Magee campus.
Ms McLaughlin echoed this.
"It's not only our city that will benefit from university expansion.
"It will provide greater choice to people right across the north-west, including County Derry and County Tyrone, and across the border in neighbouring Donegal.
"We have the opportunity to build a major cross-border university that serves this often neglected part of our island.
"We have been denied it for too long and we're urging people to come together, support our petition and demand that the 10,000 promised university places in Derry is delivered upon by the Department for the Economy and all our political institutions."
Read more: Co Derry boutique for women suffering with hair loss to launch
Read more: Inspiring Derry girl on autism fundraising mission after twin's diagnosis
To get the latest breaking news straight to your inbox, sign up to our free newsletter.
