Indicates the speaker is not certain but providing an informed estimate based on available information. As near as I can estimate, it might take an hour to fix.
Pro Tip 2/3
Informal Estimation
Common in spoken English when guessing measurements or amounts without exact figures. We have, as near as I can guess, enough food for the party.
Pro Tip 3/3
Not for Precise Data
Avoid using when discussing topics that require precision, like scientific data or legal matters. This matter requires exact figures, not 'as near as' approximations.