By combining density functional theory and nonequilibrium Greens function, we study the electronic and transport properties of monolayer black phosphorus nanoribbons (PNRs). First, we investigate the band-gap of PNRs and its modulation by the ribbon width and an external transverse electric feld. Our calculations indicate a giant Stark effect in PNRs, which can switch on transport channels of semiconducting PNRs under low bias, inducing an insulator-metal-transition. Next, we study the transport channels in PNRs via the calculations of the current density and local electron transmission pathway. In contrast to graphene and MoS_2 nanoribbons, the carrier transport channels under low bias are mainly located in the interior of both armchair and zigzag PNRs, and immune to a small amount of edge defects. Lastly, a device of the PNR-based dual-gate feld-effect-transistor, with high on/off-ratio of 10^3, is proposed based on the giant electric feld tuning effect.