According to officials, the explosions detonated while Maduro was delivering a televised speech at an event in the capital Caracas to mark the 81st anniversary of the Venezuelan army.
"We are going to bet for the good of our country", Maduro declared triumphantly moments before the sound of an explosion pierced the air.
The camera then panned to scores of soldiers who started running, before the transmission was cut.
Earlier, various reports by worldwide media outlets had indicated that this was an assassination attempt on Maduro.
Mr Rodriguz defiantly said "Whoever carried out this attack failed".
"When we were at the military parade 81st anniversary, at the end of the event in Bolivar Avenue in Caracas, at 5:41 p.m. there was an explosion".
Smoke could be seen coming out a building window.
The president and his fellow government officials escaped the assassination attempt unharmed in what Information Minister Jorge Rodriguez said was an "attempted attack" against the leftist leader. Rodriguez says that 7 soldiers were in were injured and were receiving medical care.
GettyPresident Nicholas Maduro pictured prior to make his address. The live television transmission was cut off without explanation.
Firefighters near the scene have disputed Mr Rodriguez's version of events.
Images being shared on social media showed officers surrounding Maduro with what appeared to be a black bullet-proof barrier as they escorted him from the site.
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