The piezoresistive effect in graphene ribbon has been simulated based on the first-principles electronic-state calculation for the development of novel piezoresistive materials with special performances such as high flexibility and low fabrication cost. We modified theoretical approach for piezoresistivity simulation from our original method for semiconductor systems to improved procedure applicable to conductor systems. The variations of carrier conductivity due to strain along with the graphene ribbon models (armchair model and zigzag model) have been calculated using band carrier densities and their corresponding effective masses derived from the one-dimensional electronic band diagram. We found that the armchair-type graphene nano-ribbon models have low conductivity with heavy effective mass. This is a totally different conductivity from two-dimensional graphene sheet. The variation of band energy diagrams of the zigzag-type graphene nano-ribbon models due to strain is much more sensitive than that of the armchair models. As a result, the longitudinal and transverse gauge factors are high in our calculation, and in particular, the zigzag-type graphene ribbon has an enormous potential material with high piezoresistivity. So, it will be one of the most important candidates that can be used as a high-performance piezoresistive material for fabricating a new high sensitive strain gauge sensor.